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

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.

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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.

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