Construction work on the Uganda-Tanzania oil pipeline seems closer to becoming a reality now that Tanzania has announced that they have completed geophysical and geological studies . This was announced by DR Kalemani Energy Minister for Tanzania who sought to allay rumors that the project may not see the light of day. The minister was speaking to the press in the company of his Ugandan counterpart Eng. Irene Muloni in Dar-es-salaam. 1400km pipeline When completed the pipeline will stretch from Hoima in Uganda to the Tanzanian Port of Tanga on the East African coast a distance of over 1400 kilometers and will cost an estimated US$ 4 billion. It is expected that 70 percent of the funding for the project will be raised by Uganda and Tanzania while the rest will come from Tullow and CNOOC. Also Read:Uganda, Tanzania sign deal for construction of US$ 4bn crude export pipeline Forth largest crude reserves in Africa The Homa to Tanga crude oil pipeline will deliver crude oil fr...