More investors expected in Z’bar after successful energy summit

AFTER successfully concluding a two-Day International Energy and Industry summit here, it is highly expected that the event has opened doors for serious investors in Oil and natural Gas from across the globe.

The July 26-27, 2023 summit was organised by the Zanzibar Petroleum Development Company (ZPDC) in collaboration with UK-based Global Events Partners (GEP) attracting several participants from Tanzania mainland and beyond the region.

“We are expecting investors to come and invest in the search for Oil and Gas. It is fortunate that the government has also just announced the availability of demarcated exploration areas/blocks for companies needing to invest,” said the ZPDC director general (DG) Mr Mikidadi Ali Rashid said.

The Zanzibar Minister for Blue Economy and Fisheries Mr Suleiman Masoud Makame said the available blocks for Oil and Gas survey and development are located offshore areas of Zanzibar on the east sides of the Unguja and Pemba Islands,” Mr Makame said

Union Minister for Energy, Mr January Makamba, who officiated the Summit here in the Isles said ‘Oil and Natural Gas exploration’ in both Zanzibar and mainland have been going on well.

Mr Makamba called for more surveys as only a small area of the exclusive economic zones (EEZ), thousands of square Kilometres, has been surveyed, “We need more research in Oil and Natural Gas along with communicating the right information to the public.”

Makamba cautioned ordinary citizens and politicians against exaggerations, misleading statements, and politicising the Oil and Gas issues, “We need to provide correct information. We should give them hope with reliable information.”

Mr Hamid Abdallah and Mr Amani Shein (organising team leader) said that many companies within the united republic of Tanzania and from abroad participated in the summit to include exhibitions and local producers to showcase their services and products.

Mr Ali Khalil Mirza, Chairperson of ZPDC board, closed the summit saying that it was a good opportunity to share experiences and also expose the available areas for investment.

In February this year, ZPDC signed an agreement with GEP to organise the summit for the first time, -a move that will enhance the ongoing programmes in oil and natural gas exploration.

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