The Latest

BG East Africa invests $2 billion in Tanzania Oil and Gas sector

March 7, 2013
1 minute read

BG East Africa announced that they have invested $2b in Oil and Gas in Tanzania due to its great potential.

The President for Barrick Gold East Africa, Mr Derek Hudson said that Tanzania has a great opportunity and is prosperous in oil and gas than other East African countries due to the availability of deep water.

“So far around $2bn has been invested by BG East Africa in oil and gas projects here,” Mr. Hudson said, adding that the company will continue with its investment plans in Tanzania.

He said BG East Africa is willing to build business with government in conjunction with the public that would aim at growing the Tanzanian economy.

“The investment we are making in the country is for the mutual benefit for all, adding that despite the road for oil and gas being ruff and stiff he was optimistic that Barrick Gold Tanzania will make it.”

So far BG East Africa has invested $40m on training of Tanzanians in Lindi and Mtwara located on the Southcoast of Tanzania equipping them with skills which will later allow them to access jobs in the oil and gas sector in Tanzania.

Barrick Gold is the world’s largest gold mining corporation and has an established history with mining in Tanzania. Tanzania remains Africa’s third largest producer of gold and fastest-emerging gold producer in Africa.

Want to know more about Energy in Tanzania? Our free Tanzania Business and Investment Guide 2026 covers Energy, plus regulations, key sectors, and investment opportunities — all in one place.

Download Free Guide
Tweet
Share
Share
Share
Related Posts
Songo Songo Offshore Gas
Read More

Tanzanian-Led Consortium To Take Full Control of Songo Songo Gas Field as Orca Energy Exits for USD 10

Orca Energy Group has signed a definitive agreement to sell its entire Tanzanian gas business—including the Songo Songo gas field—to Taifa Gas Tanzania and Amber Energy Investment for a nominal USD 10, citing significant contingent liabilities and uncertain license renewal prospects. The Songo Songo gas field divestiture transfers 100% of Orca's operating assets to a buyer group led by Taifa, one of Tanzania's leading LPG companies, pending regulatory and shareholder approvals.
EACOP April 2026 Update
Read More

East African Crude Oil Pipeline Reaches 82% Completion

The East African Crude Oil Pipeline (EACOP) has reached 82% overall completion as of April 2026, with construction progressing across pipeline sections, pump stations, and the Chongoleani Marine Terminal in Tanga. The 1,443-kilometre pipeline is advancing steadily toward First Oil, with all line pipes delivered and the marine jetty at 88.1% completion.
Tanzania Mnazi Bay Gas Well
Read More

Tanzania Seeks Strategies to Revitalize Petroleum Exploration Activities

The Ministry of Energy instructed the Petroleum Upstream Regulatory Authority (PURA) and Tanzania Petroleum Development Corporation (TPDC) to seek strategies to revitalize petroleum exploration activities in Tanzania and add investment blocks. Officials highlighted the drop from 26 to 11 active Production Sharing Agreements and emphasized creating an enabling environment for exploration, including collaborations with Multi-Client Geophysical Companies.