Oil and gas conference set to unlock Tanzania’s potential

Oil and gas conference set to unlock Tanzania’s potential

Ayobami Adedinni

The oil and gas sector in Tanzania is set to experience a paradigm shift as Zenith Professional Training (ZPT) hosts the Sub – Sahara Africa Upstream Oil & Gas Summit and Exhibition.

The event which holds April, 2019 is packed with information, innovation and solutions for the sector.

With the government wholeheartedly devoted to attracting global investment to accelerate a period of extensive industrialisation, ensuring the success of the oil and gas sector is crucial to Tanzania’s economy.

Africa is home to some of the world’s fastest-growing economies, with many of them relying on oil for foreign exchange.

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It is estimated that 57 per cent of Africa’s export earnings come from hydrocarbons. Proven oil reserves have grown by almost 150 per cent, increasing from 53.4 billion barrels since 1980 to 130.3 billion barrels by the end of 2012.

The region is home to five of the top 30 oil-producing countries in the world, and nearly $2 trillion of investments are expected by 2036.

Tanzania which holds most of East Africa’s gas resources is keen to execute major projects which include the US$175 billion US government funded gas projects in Africa.

The main motive of this summit, therefore, is to bring to fore the  potential in Sub- Sahara oil and gas thus the theme “Gearing up for Growth: Sub Sahara Oil, Gas, and Power Oil Chain’.

Hence, the event will be an exciting opportunity for local companies to meet and engage with potential partners for in-depth discussions about the development of the strategic oil and gas mega projects, the importance of capacity building and knowledge transfer, the opportunities for Tanzanian companies and workforce in the oil and gas value chain, and many other key topics.

 

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