RE: PSA Agreement25 Nov 2022 18:27
Google translation:
The Minister of Energy, January Makamba, has asked the National Petroleum Development Corporation (TPDC) and the ARA petroleum company to ensure that the Ruvuma block gas extraction project in Mtwara region is completed on time.
Makamba gave these instructions today in Dar es Salaam during the signing of the Additional Production and Revenue Sharing Agreement (PSA) in the Ruvuma-Mtwara block.
Makamba said the government's mission is to see that the project is completed within 12 months and said he does not expect to hear that the project is delayed due to finance.
However, Makamba has said that when the project is completed, it will be the first gas project that will benefit the nation in various fields, including getting taxes, Dividends for the government, as well as the government getting money from natural resources.
In addition, Makamba has also said that the people of the southern regions expect to benefit during its construction, including getting jobs during the construction of the project.
And the director general of ARA petroleum Erhan Saygi has thanked the government of Tanzania, especially the leaders of the village governments for their cooperation and added that the completion of the investment will lead to the improvement of various infrastructures as well as increasing employment for Tanzanians, a situation that will help to increase the income of the people and the nation as a whole
On his part, the Director General of the Tanzania Petroleum Development Corporation (TPDC) Dr. James Mataragio has said that the investment worth 500 million US dollars is expected to produce approximately 160 million cubic feet per day while making it clear that its implementation will help increase the momentum and encourage more investors
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