With the recent hype discovery of natural gas in Tanzania, British companies are considering trade partnerships with local Tanzanian firms following opportunities that have opened up in the oil and gas industry.
This is due to the impressive pace of development in Tanzania. Investors, Tanzania Government and local Think Tanks are upbeat about the future of Oil and Gas in Tanzania and the investment opportunities the sector would present for British companies.
Mr Julien Masse, an International Business Team Leader for Aberdeen & Grampian Chamber of Commerce (AGCC) visiting Tanzania to explore the growing investment opportunity for British businesses said that “British companies were keen on opportunities to partner with local companies. A trade mission to Tanzania would target business development opportunities for small and medium enterprises (SMEs) in the oil and gas sectors”.
The aim of the mission is to make SMEs involved in oil and gas conversant with information to support their future entry into Tanzanian 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.
An International Business executive at LCCI Ms Ruma Deb, noted that Tanzania was important for many of the firms on the mission, with the country’s consistent economic growth offering great opportunities for London businesses locally.
During their visit to Tanzania they met with the Ministry of Energy and Minerals, Statoil Tanzania, Tanzania Petroleum Development Corporation (TPDC), Ophir Energy, Weatherford Tanzania and various consultants to discuss future investment opportunities in Tanzania.
The British High commissioner to Tanzania, Ms Dianna Melrose, said the coming of British companies demonstrated a growing interest in setting and doing business in Tanzania.