
“Now is the time. Uganda is the right destination for investment.” As H.E. President Yoweri Kaguta Museveni has said, 2022 represents a significant milestone in…
READ MOREGas reserves1.6 tcm
Gas production3.12 bcm
Tanzania’s oil and gas industry has grown significantly since major offshore natural gas was discovered at the Songo Songo and Mnazi Bay fields in 2004. The country now exports natural gas and has used revenues to diversify its energy offerings and create more economic stability. The government has also ratified its oil and gas policies to create a more conducive environment for international investors and growth of local industry and talent. Tanzania is currently working under its Natural Gas Utilization Masterplan 2016-2045 that looks to organise the industry and pinpoint and develop further gas-related projects.
In March 2016, Dubai-headquartered Dodsal Group made Tanzania’s first large onshore gas discovery with a 76.4 bcm (2.7 tcf) find in the country’s Ruvu Basin region. Potential reserves are estimated around 107.6 bcm (3.8 tcf). Ultimately, the discovery could represent between USD 8 billion-11 billion worth of natural gas.
NOC Tanzania Petroleum Development Corporation is the sole licence holder for upstream plays. The state-owned player has created subsidiaries TANOIL to deal with downstream operations and Gas Company Tanzania to deal with both midstream and downstream activities. The Tanzanian government has maintained a favourable attitude towards foreign investment and managed to attract large IOCs to explore the country’s hydrocarbons reserves, including Norway’s Equinor, US’ ExxonMobil, UK’s Shell and Ophir Energy, the latter of which was later acquired by Indonesia’s MedcoEnergi.
The country’s economy has suffered amid sluggish global economic growth and depressed commodity prices. However, the current government is pushing for the development of Tanzania’s yet untapped offshore gas reserves to generate new streams of revenues for the state and boost economic growth. Investment opportunities also exist in the country’s active diversification schemes, including export pipelines and LNG terminal projects.
Tarik Al Junaidi, CEO of Oman Oil Marketing Company (OOMCO), talks to The Energy Year about the company’s activities and…
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READ MORESteve Thomas, managing director of Africa Geophysical Services (AGS), talks to The Energy Year about variables affecting demand for seismic services in Oman, the…
READ MORENegotiations to build a USD 30-billion LNG export facility in Tanzania have been completed, Reuters reported on Tuesday.
According to Minister of Energy January…
READ MOREUganda is set to begin the drilling programme at the Kingfisher oilfield today, state-run Petroleum Authority of Uganda announced on Tuesday.
Uganda’s President…
READ MOREMasdar has signed three agreements to develop 5 GW of renewable capacity in Angola, Uganda and Zambia, the Emirati green energy company announced on Friday.
The…
READ MORE“Now is the time. Uganda is the right destination for investment.” As H.E. President Yoweri Kaguta Museveni has said, 2022 represents a significant milestone in…
READ MOREBernard Katureebe, managing partner at Ortus Advocates, talks to The Energy Year about priorities for investors in Uganda, the firm’s role in the country’s oil and…
READ MOREUgandan Minister of Energy and Mineral Development Ruth Nankabirwa Ssentamu talks to The Energy Year about the key recent achievements of the ministry, its strategic…
READ MOREPamela Mbabazi, chairperson of Uganda’s National Planning Authority (NPA), talks to The Energy Year about hurdles that need to be overcome in developing Uganda’s…
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