UK firms eye Tanzania oil & gas sector

22 March 2013, Dar Es Salaam – Several British companies are in Tanzania in search of business opportunities. They say they want to enter into partnerships with local enterprises in oil and gas industry.

The industry is said to be heading for more vibrant years as over 21 foreign companies continue carrying out exploration both on and offshore.

Addressing a news conference in Dar es Salaam, the international business team leader of Aberdeen & Grampian Chamber of Commerce, AGCC, Mr Julien Masse, said the group has been encouraged by the promise of the Tanzanian oil and gas sector.

“We are encouraged with what we have seen so far in the oil and gas production in Tanzania and British companies are upbeat about what they can do both at the main and sub-sector level through partnerships with local companies,” he said.

A trade mission to Tanzania will target business development opportunities for small and medium enterprises, SMEs, in the oil and gas sector.

He said the aim of this mission is to equip delegates from SMEs involved in oil and gas with all the relevant information and contacts to support their future entry to the Tanzanian and Ugandan markets.

The London Chamber of Commerce and Industry, LCCI, and AGCC were accompanied by 25 companies from a range of sectors, including eight oil and gas firms.

This is the fifth year running that the LCI has visited Tanzania, bringing with a number of companies from a range of sectors, including property advisory and asset management, product and packaging design and power protection and generator solutions.

The LCCI and AGCC mission participants had a range of objectives that include looking for local representatives, qualified distributors or agents and clients.

Some researched the market for the first time while others built on existing contacts. Ms Ruma Deb, international business executive at LCCI singled out that Tanzania is important for many of the firms on the mission, with the country’s continued economic growth offering great opportunities for London businesses to come here.

The city of Aberdeen, with its oil and gas connections, is recognised as a global hub for energy experts and AGCC’s Africa business centre has developed trading links for over 40 years.

During their visit to Tanzania they met with ministry of Energy and Minerals, Tanzania Petroleum Development Corporation, TPDC, Statoil Tanzania, Ophir Energy, Weatherford Tanzania and a number of one to one meetings with businesses and consultants to discuss future investment opportunities.

< Previous Article
Brent holds above $107
About the Author