ENERGY. British high commissioner Diana Melrose says Tanzania’s oils and gas represent a growing market, offering substantial opportunities for UK companies to invest in the sector
Dar es Salaam. British companies are interested in investing in Tanzania’s energy industry.
During their last week’s four-day tour that ended on Friday, the company executives also showed interest in public-private partnerships in electrical, manufacturing, exports, imports and commerce.
British high commissioner Diana Melrose says Tanzania’s oil and gas represent a growing market, offering substantial opportunities for UK companies to invest in the sector. With a lot of gas finds, its extraction will require an influx of high-level expertise.
She urged British companies coming to Tanzania to emulate Ophir Energy, which has spearheaded the exploration of gas with a long-term perspective of developing it in a profitable way to sustain the country’s economic growth. “There are good partnerships to be made here,” she said.
According to her, British firms have become a part of the Tanzanian economy and have established good relations with the Tanzanian firms.
These companies have great resources and experiences in overseas markets, making them good partners for Tanzanian firms.
High oil and gas prices are driving growth in exploration in Tanzania, but global companies say their commitment depends on the government’s willingness to improve the investment climate.
The British business mission aimed at finding out more about the Tanzanian business environment and foster links with those firms.
Machbrook operations manager Jay Thakrar pointed out that Tanzania and the rest of East Africa were encouraging foreign companies to seek partnerships with local companies to transfer technology and widen their business scope.
“East Africa is a really exciting new market for us because it is growing rapidly and is concentrating on high-quality products. So, we promise to provide competition for the local companies by reducing product costs,” he told BusinessWeek.
Clarke Energy Group marketing manager Alexander Marshall stated that Tanzania had a great potential for British companies in gas exploration and production.source The Citizen
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