In order
to ensure increased participation of Tanzanians in the oil and gas
sector the Tanzania Private Sector Foundation (TPSF) announced the
formation of Tanzania Oil and Gas Corporation PLC.
The
primary motive behind the formation was to give Tanzanian a platform to
actively participate in the oil and gas industry by entering in joint
ventures with foreign firm in the sector.
A condition was also framed that any
individual, company, association of individuals or any related companies
could not buy more than 5% of the totals shares available for
distribution.
This move was intended to ensure more people get the opportunity to buy the shares of the company.
Dr Reginal Mengi TPSF Chairman said
that he hoped there would be capacity building taken up by this company
along with a boost to the supply chain in oil and natural gas.
Over the past two years, exploration
activities in Tanzania’s deep offshore waters led to the discovery of 45
trillion cubic feet (tcf) of natural gas, and more is to come as
drilling campaigns continue to unfold. |
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