SOUTH AFRICA: TANZANIA is participating in the 2024 Africa Oil Week Conference to showcase investment opportunities in oil, natural gas and alternative energy sources.
The conference, which began on Tuesday and ends today, is taking place in Cape Town, South Africa, with Deputy Minister for Energy Ms Judith Kapinga representing the country.
During the conference, Ms Kapinga attended the Ministerial Symposium, a key event within the Africa Oil Week 2024 agenda.
The conference theme, “Investing in African Energies,” aims to promote investment opportunities in oil, natural gas and alternative energy across the continent. In a regional keynote speech, Secretary General of the African Petroleum Producers Organisation, Dr Omar Ibrahim, reaffirmed the commitment of all stakeholders in the Africa Energy Chamber to work collaboratively for the betterment of the continent’s energy industry.
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Dr Ibrahim addressed the issue of climate change caused by emissions from fossil fuels, urging African leaders attending international climate summits, such as the UN COPs, to focus not only on securing funding but also on coming up with bold agendas that compel developed nations to reduce their own emissions.
“We should not be seeking climate funds; the climate challenge was not created by Africans. Those who caused it have the capacity to change it. What we are doing today is merely running from the fundamentals,” said Dr Ibrahim.
He emphasised that advanced countries have emitted 25,000 gigatonnes of emissions over the past 120 years, noting that this legacy of emission is the root of the problem, not current or future emissions.
Director General of the Petroleum Upstream Regulatory Authority (PURA) Engineer Charles Sangweni, revealed plans during the 48th Dar es Salaam International Trade Fair (DITF) regarding Tanzania’s energy potential.
According to extensive research by PURA, approximately 50 per cent of Tanzania’s landmass holds potential oil reserves, particularly in promising areas along the coast, in central regions and in the highlands surrounding Mbeya.
The investment guide released by the Tanzania Investment Centre (TIC) highlights several gas discoveries along the Indian Ocean coast, including at Songosongo, Mnazibay and Mkuranga in the Coast Region.
The discoveries are catalysts for natural gas development in Tanzania. Currently, 22 oil companies are engaged in exploration activities for oil and gas in the country, including BG Group, Statoil, Petrobras and Ophir Energy, among others.
With estimates suggesting over 41.7 trillion cubic feet of gas reserves, Tanzania is positioning itself as a regional hub for energy.
Source link : https://dailynews.co.tz/tanzania-showcases-oil-gas-opportunities-in-sa/
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Publish date : 2024-10-10 06:55:15
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