Tanzania is blessed with an abundant of natural deposits with oil and gas (O&G) a leading resource that could potentially transform the country’s economy. Tanzania is now developing its O&G sector and has called on investors to come aboard to achieve the government’s set goals.
These were the thoughts shared by the government during the opening of the 2nd Oil and Gas Congress held at the Hyatt Hotel in Dar es Salaam from the 24th to 25th of September, 2018. Themed “Promoting government and industry collaboration in Tanzania oil and gas” the conference brought together stakeholders in the O&G sector including mining companies, banks, law firms and all service providers in the sector. Companies in attendance included Shell, Total and Equinor who are entities involved in the exploration and drilling process in the country.
Speaking during the conference, Hon. January Makamba, Minister of Environment representing Prime Minister Kassim Majaliwa explained that the government is keen in supporting the O&G sector and is looking to expand into more projects in the future.
‘’The government has set aside TZS 6.5 billion in this year’s budget for allocation in implementation of the LNG project in Mtwara. We are also working to ensure the Uganda-Tanzania pipeline project starts in 2019 and finishes in three years’ time as planned’’, said Prime Minister Majaliwa.
‘’We are also working to create a conducive environment for investors through having infrastructure and a regulatory framework that is investor-friendly’’, added the Prime Minister.
Tanzania Minister for Energy, Hon. Dr. Medard Kalemani also emphasized the importance of developing the O&G sector. “Oil and Gas sector is an important aspect of Tanzania in achieving our sustainable development goals and boost growth in our industries. The government through Tanzania Petroleum Development Corporation (TPDC) plans to distribute gas to 32 industries in Dar es Salaam and 50 industries in Mtwara.
Minister of Lands, Housing, Water, Energy of the revolutionary government of Zanzibar, Hon. Salima Aboud, also welcomed investors to Zanzibar.
‘’Zanzibar is in the process of expressing interest for bidding in its blocks, hence we welcome investors to place their offers’’, said Minister Aboud.
On his part Uganda Minister of State for Minerals, Hon. Peter Lokeris, also welcomed investment in the East African crude oil pipeline. “Now is a good time for investors to come and help us to develop the oil and gas sector’’, he said.
In order to realize the full benefits of the sector stakeholders called for more private public partnerships in developing the O&G sector.
By Athanasius Lupatu