The Race For East Africa Oil and Gas Has Well and Truly Begun.

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Three events in the last few months indicate the start of a new international oil and gas rush to East Africa.

In April 2021, TotalEnergies, CNOOC, Tanzania, and Uganda signed agreements to develop Ugandan Kingfisher, Tilenga projects and the cross-country East African Crude Oil Pipeline (EACOP)project. This agreement includes Host Government Agreement, the Share Holding Agreement, and the Tariff and Transportation Agreement for the EACOP.

In February 2022. TotalEnergies, China National Offshore Oil Corporation (CNOOC), Uganda National Oil Corporation (UNOC), and state-owned Tanzania Petroleum Development Corporation (TPDC) announced FID, which indicates a giant stride for Uganda’s path towards first oil, which is expected in 2025.

In June 2022, Anglo-Dutch Shell,Norway’s Equinor, and Tanzania signed a framework agreement to implement a $30bn LNG export project, signaling a significant achievement in Tanzania’s path to reach the final investment decision on the project, which is expected in 2025.

For quite some years, many investors and companies have been aware of East Africa’s potential. But the rest of the world realizes immense opportunities exist in Tanzania’s oil and gas plays.

Hussein Boffu runs a consultancy helping elite entrepreneurs reach their goals through actionable business planning. Contact him via email at hussein.boffu@tanzanapetroleum.com or by calling, texting, or WhatsApp at +255(0)655376543.