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Tanzania Energy Ministry highlights investment opportunities
The Ministry of Energy took advantage of the Africa Energy Week held in Cape Town, South Africa, to outline the investment opportunities available in the energy sector in Tanzania and to invite investors to seize those opportunities.
The Ministry, through a presentation delivered by the Deputy Permanent Secretary responsible for petroleum affairs, Dr. James Mataragio, on November 05, 2024, highlighted several opportunities including investment in oil and natural gas exploration blocks, oil and gas infrastructure, renewable energy projects, and petrochemical industries.
Regarding the oil and natural gas exploration blocks, Dr. Mataragio stated that the Ministry has already completed important preparations towards the launch of the fifth licensing round scheduled for March 2025 during the East African Petroleum Conference and Exhibition to be held in Dar es Salaam.
"We expect to auction a total of 26 petroleum exploration blocks in the country. Among these blocks, 23 are located in offshore areas and three (3) are in the Lake Tanganyika" added Mataragio.
Along with these blocks, Mataragio explained that there is also an opportunity for investors to partner with the Tanzania Petroleum Development Corporation (TPDC) to develop the Eyasi-Wembere, Mnazi Bay North, and Songo Songo West blocks; blocks that TPDC has continued to explore for oil and gas.
In the presentation, Mataragio explained that data for all blocks (those to be auctioned and those under TPDC) is available for investors to view and purchase. Among the types of data he mentioned are magnetic, gravity, seismic (2D and 3D) and wells data.
Other areas he mentioned include investments in the construction of Compressed Natural Gas (CNG) stations and petrochemical industries.
Together with outlining the available opportunities, Dr. Matarajio stated that the Government has done commendable work to improve the investment environment in the country and to implement strategic projects such as the Julius Nyerere Hydropower Project (JNHPP), thus Tanzania is the right place for investment.
