About three-quarters of a $5 billion pipeline crucial for exporting crude oil from Ugandan fields through neighbouring Tanzania has been built, Uganda's state-run sector regulator said on Wednesday.

After nearly two decades of delay, Uganda has now set the second half of next year as the target for starting production from oilfields in its Albertine rift basin in the west of the country.

The 1,443-kilometre (897-mile) East African Crude Oil Pipeline (EACOP) must be finished before production at the $15 billion oil project owned by French and Chinese companies kicks off.

EACOP will connect the Ugandan oilfields to Tanzania's Indian Ocean Tanga port and has been described as the world's longest electrically heated crude pipeline.

More than $3.3 billion invested in project thus far

Ernest Rubondo, chief executive of the Uganda Petroleum Authority which overseas the country's hydrocarbons sector, said in a statement that all the pipes for the project had been delivered to various stations along the EACOP route.

So far, at least $3.3 billion has been invested in the project. Other shareholders include state-owned petroleum firms in Uganda and Tanzania, and CNOOC.

Over $4 billion is being invested in Uganda's petroleum sector including on activities in the Kingfisher and Tilenga discoveries between 2025-2027 in "preparation for production", Rubondo said.

Drilling and associated development activity at Tilenga and Kingfisher projects ahead of start of crude production is 60% and 74% complete, respectively, Rubondo said.