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Dar es Salaam. Attorney General Adelardus Kilangi has asked oil and gas exploration companies to immediately comply with the requirements of the Local Petroleum Content Regulations.
Dr. Kilangi warned Saturday that licenses from non-compliant companies would be withdrawn. ] "We have the law and regulations in place; now it's about the companies that are drilling for gas, and exploring the oil to make sure they're not breaking it." Government will take tough measures against anyone breaking the law, "said the AG. He advised oil and gas companies to familiarize themselves with the new laws and to act accordingly.
He spoke to reporters shortly after visiting the flag of the Tanzanian Petroleum Development Corporation (TPDC) at the 42nd International Fair in Dar es Salaam (
. Tanzania adopted a series of new laws on oil and gas. exploitation of natural resources that radically alter public participation in mineral, oil and gas exploration activities to stimulate incomes and create employment.
Oil and Gas Revenue Management Act, 2015 Act of Tanzania in 2017 and the most recent ones namely: "The Natural Resources and Wealth Act (Permanent Sovereignty) 2017" and "Natural Resources and Resources (Revenues and Renegotiations) of Inconceivable Conditions) Act of 2017." [19659002PrivatecompaniesintargetedsectorsespeciallymultinationalsarereviewingtheiroperationstoadapttonewlegislationtheenvironmentthatwillseedrasticchangesinthewaytheyworkThe2017Petroleum(LocalContent)Regulationsrequirenon-localcompaniestoincorporateandprioritizeTanzanianparticipationthroughemploymentjointventuresofatleast15to100percentforworksandpropertyandtheexclusiveuseoflocalservices
Unlike the mining sector where there appears to be some movement, the oil and gas sector is lagging slightly behind due to delays in adopting a framework for revising its contracts with the oil sector.
The administration of President Magufuli has signaled his intention to renegotiate agreements with companies that have put the gas on or who are already exploiting the resource for a situation where everyone wins.
The New Laws Throwed A The Parliamentary Budget Committee warned two weeks ago that investments in the exploration of more gas and oil were depleting
. The companies were also looking to divest their business and invest elsewhere, citing the case of Exxon Mobil (XOM.N), which confirmed that it was looking for buyers for its participation in a largely undeveloped gas field. developed in Tanzania and moved to Mozambique. 19659002] Dr. Kilangi was referring Saturday to the Petroleum Act and its regulations approved this year. The AG did not talk about imminent talks between sector investors with the government, but stressed that ongoing operations must comply with laws approved by Parliament.
The AG is the chairman of the board of directors of PURA, a new agency created to be the center of government attention in upstream activities while Tanzania hit billions cubic meters of gas reserves expected to last for the next 50 years. He said that there will be no return on the resolution to increase local participation in the sector. The AG also challenged Tanzanians to seek out how the sectors work so that they can seize business opportunities. "Let's not wait until the last minute to start complaining."
In 2016, the VET introduced a course on oil and gas that aims to prepare Tanzanians to participate fully in the sub-sector. 19659002] Dr. Kilangi said that more than 50 students have already graduated and work at oil and gas companies based in Mtwara and Lindi.
Additional report by Gadiosa Lamptey
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