Uganda, 13/12/2007
 
SHARJAH FIRMS SEEKING TO INVEST IN TANZANIA OIL EXPLORATION IN TANZANIA

By Leo Odera Omolo

A delegation from the Shorjah Chamber of Commerce and Industry will soon visit Tanzania to identify investment opportunities in the country’s gas petroleum field.

The chairman of the organization Mr Mohammed Ahmed Al Midfa said last week that Shrjah business firms were interested in gas petroleum exploration in Tanzania.

Mr. Al Midfa said the Shorjah government is planning to set up a centre in Tanzania where products and services from the UAE will be exhibited and investment opportunities in the country tapped.

“The Tanzania government has already allocated us land where we will build an exhibition and investment centre to boost trade between the two countries.” He said.

Currently two Dubai based companies -Black Marlin Energy and RakGas are seeking oil in the Nyuni /Songo Songo area

Geologists’ experts believe that there are considerable off-shore reserve of gas and oil.

There are 14 companies exploring for gas and oil and so far three arrear have been found to have natural gas deposits .The gas discovered in Tanzania and oil discovered on the border between Uganda and Congo have sharpened interest in the region.

Mr Juma Maharage, Tanzania’s Ambassador to the UAE sad the government has offered six blocks for oil exploration, stretching from the northwest to the Country.

Mr Maharage said last week that Tanzania’s political and economic reforms as well as its friendly investment policies make it favourable environment for foreign investment.

Sharjah has already invested in food processing in Tanzania and is now seeking opportunities in Tourism and the hospitality sector

A Tanzania delegation recently visited the UAE and made presentations on the investment opportunities in mining, horticulture, aviation, realestate, manufacturing, fishing and oil sector.

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leooderaomolo@yahoo.com