French oil firm, Total, will become the biggest shareholder in Uganda’s oil project following the government’s approval of the sale of Tullow’s 33.33% stake of its Ugandan assets at US$ 575 million (Approx. Shs 2 trillion).

This new development means that the French firm’s interest in the Lake Albert Development Project has increased to 66.66% while the rest is held by the China National Offshore Oil Corporation (CNOOC).

Read more: The Independent