M a r k e t N e w s

Tanzania: Isles to Engage Honest Oil Explorers

Posted on : Tuesday, 4th October 2016

 Zanzibar — The two-week Zanzibar House of Representatives session has ended here with the government promising to be careful in issuing international tenders for oil companies to explore for oil and gas.

Moving a motion to adjourn the session to November 23, this year, the Second Vice- President, Ambassador Seif Ali Iddi, said: "We will be careful in entering contracts with companies interested in exploring for oil and gas. Our natural resources must benefit us."
He informed the House that the government has been making progress in the 'oil and gas' project and that the progress includes having a policy in place and training people who will work in the 'new industry.'
Ambassador Iddi asked the legislators and people in the Islands not to be in the rush and overwhelmed because it is still a long way to go in the process beginning with preparations. There will be research before drilling starts if oil deposits are discovered.
Before the second vicepresident's speech, Members of the House discussed and approved the Bill for 'an Act to establish Zanzibar Petroleum (upstream) Regulatory Authority...', and 'Zanzibar Petroleum Development Company (ZPDC),' to oversee the project.
During the discussion, backbenchers asked the government to be careful in tendering to avoid bogus companies and dishonest staff to work in the sector and also ensure there is proper collection of revenue, security and environment protection.
Mr Iddi said the government is committed to see to it that peace and stability prevails sustainably to provide a friendly atmosphere for investments and smooth implementation of development projects.
The second vice- president reiterated his appeal to the members of the public including political leaders to avoid instigating violence and hatred in the country as its consequences are always regrettable.

Source : allafrica.com
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