1. Many players target East Africa’s market
With several discoveries recently made, the region has gained attention from international players.
Some years back, European nationals and companies were the ones dominating the East African oil and gas industry. However, in recent years, many Asian companies are also competing with the Europeans.
An example is the Chinese state-owned CNOOC, which is one of the developers of the Ugandan oil resources that work in partnership with Total and Tullow to develop Uganda oil resources.
In Tanzania’s case, Royal Dutch Shell, in partnership with Singapore’s Pavilion Energy and UK-based firm Ophir Energy, has some 16 trillion cubic feet of offshore reserves.
Norway’s Equinor (previously Statoil) and US supermajor ExxonMobil have 23 trillion cubic feet offshore.
These five firms are working on building the Liquefied Natural Gas plant (LNG) through the progress is being delayed in the five years.
Exploration and development of the oil and gas sector have become powerful magnets for increasing foreign direct investment (FDI) projects in the region.
In the past 8 years, Tanzania announced 10 foreign direct investment projects that worth USD 3.2 billion.
On the other hand, Mozambique announced 23 foreign direct investment project between 2010 and 2017.
3. Abundant oil and natural gas are underway
East Africa is arguably the most lucrative region for oil and gas exploration in the world.
Across the region, the abundant oil and natural gas are underway. New exploration. And new discovery.
Tanzania and Mozambique are some of the new natural gas exploration hotspots in the world. Meanwhile, Uganda and Kenya have also discovered massive oil resource
East Africa has 157 trillion cubic feet of natural gas reserves and 7.2 billion barrels of oil.
Think about that.
Of those 157 trillion cubic feet of natural gas, 100 trillion cubic feet were discovered in Mozambique and the remaining 57 trillion discovered in Tanzania.
According to the US Geological survey, Tanzania has potential natural gas reserves of up to 441 trillion cubic feet solely in the coastal region. So, more discoveries might be forthcoming.
In a November 2018 report titled Africa oil and gas play, Deloitte wrote, “The government of Uganda is in the process of awarding new exploration license of six blocks
Not surprisingly, East Africa will be a haven for oil and gas business from the second quarter of 2019 to 2025.
Emerging Business Opportunities In East African Oil and Gas Sector.
The region has untapped opportunities, That you can take advantages for those who are willing to take a risk in pursuit of greatness.
Over the years, I have discovered that many individuals and organizations want to learn the business in the emerging East Africa’s oil and gas industry.
But you’re like a pawn who found itself in the middle of the Pacific Ocean with a mission to travel to Russia. Ah!
If you want to learn about opportunities available and the oil and gas development in the region, you can buy an overpriced, few-page report, try to subscribe to many publications or spend hours visiting the web. It’s yours to decide, after all.
The options above are definitely daunting, expensive and time consuming.
I have been in that shoe before, and I know why the reports are overpriced and minimally useful.
Tanzania Petroleum got you covered
Tanzania petroleum is an oil and gas forum that engage stakeholders in East Africa oil and gas sector.
We use the following channels to engage stakeholders
1. Produce a special report/spotlight magazines on the oil and gas business (Tanzania, Uganda, Mozambique). Our reports are available for free to download on the Tanzania petroleum website.
2. Tanzania petroleum also run events named “Oil and Gas Happy Hour” The event is very inexpensive shorter and more convenient events (typically 6 pm to 10 pm) which provide a much more intense and time efficient learning experience.
3. Regular publications on who is doing what in East Africa oil and gas sector.
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