Browsing: Equinor

• The tripling of investment in 2022 is a statement to the world that the East African nation is open for business.
• The success is a straightforward strategic plan from President Samia’s administration since she assumed office in March 2021.

Tanzania Investment Centre (TIC) records show that the year 2022 has made the statement ‘Invest in Tanzania’ hold water. Over the past months, several activities have echoed across multiple fields, including manufacturing, transportation and tourism.

TIC records show that from July to November 2022 there was an increase of 22.2 percent in investment projects (132 registered projects) compared to 102 projects registered during the same period in July to November 2021.

In October, the American firm Moody’s Investors Service changed its status on Tanzania’s outlook from stable to positive, noting that political risks have declined under President Samia Suluhu Hassan’s administration, which concurrently promotes economic development and strong diplomatic ties.

Tanzania’s …

• Uganda, Kenya, and Tanzania are building their oil and gas economies at a very fast pace
• Algeria is Africa’s leading natural gas producer, with almost 2.4 trillion cubic meters of proven reserves
• Nigeria is Africa’s largest oil producer, and Africa accounted for approximately eight per cent of the global oil output in 2020

When it comes to oil and gas in Africa, there is plenty of potential to produce enough energy on the continent.

Africa accounted for approximately eight per cent of the global oil output in 2020. Similarly, at least 330 million metric tonnes of oil will be produced in Africa in 2020 (Statista). Global oil and gas players such as ExxonMobil, Shell, Equinor, and BP are pushing the continent forward.

The energy sector in East Africa is rapidly expanding its commercial potential thanks to Tanzania. The EACOP pipeline, upstream offshore gas projects, LNG project discussions, and various renewable …

Tanzania has been ambitious from day one to strike oil. However, it took a while to find oil deposits, and it will take time to commercialize the oil discovered—a tedious but necessary process.

Oil and gas exploration in Tanzania has been taking place since 1952. The Discovery of oil reserves in Tanzania’s Wembere-Eyasi proves the long wait was worth a while.

In the same suit as its neighbouring nation, Tanzania is to undergo a rigorous process to commercialize the oil discovered entirely.

For instance, in Kenya, which discovered oil and experienced the first stages of (testing) exporting at least 200,000 barrels—the nation is working to build the functioning and healthy infrastructure necessary to tap the existing potential.…

Earlies this month, the government of Tanzania demonstrated how serious the nation is with a big deal sealed in the nation’s capital, Dodoma, on Saturday (11 June).

The Government of Tanzania and its partners, including global industry giants Equinor, Shell and ExxonMobil, have set the bar so high with a historic Host Government Agreement (HGA), which will realize ambitious gas and Liquified Natural Gas (LNG) mega project.

The $30 billion natural gas project aims to produce 10 million tons per annum of LNG for export with transformational potential for industrialization by bringing investment, technology, skills and infrastructure to the country, which will benefit Tanzanian businesses and its citizens.…

Tanzania is not a newcomer to the oil and gas economy. The sector has evolved over the past decade and become a flagship sub-sector that stands to draw billions. The journey to the current standpoint, where Tanzania and a consortium of oil and gas giants have inked preliminary agreements, was tedious but necessary.

Gas exploration has been existing for more than 50 years in Tanzania. The first natural gas discovery in Tanzania was made in 1974 on Songo Songo Island, followed by the second discovery at Mnazi Bay in 1982.

That discovery took the sector’s attention from exploration to commercialization of the two findings, promoting more investments in Tanzania’s onshore and offshore gas explorations.…

Tanzania’s race for natural gas development is strategic and on point. The nation has been paying attention to several methods of maximizing the LNG potential.

LNG in Tanzania is faced with other competitions in the region. Egypt is the next potential powerhouse next door and a much more experienced producer.

In 2012, Tanzania and three Chinese companies agreed to construct a 542 km pipeline leading from Mtwara to the nation’s commercial capital, Dar es Salaam.…