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Oman Oil Co. opens Tanzanian office

  |   Feb. 10, 2014 at 7:41 AM
MUSCAT, Oman, Feb. 10 (UPI) -- Nasser bin Khamis al-Jashmi, chairman of Oman Oil Co., said Monday opening an office in Tanzania would help funnel investments into the country's energy sector.

"Commencing operations in Tanzania is an important milestone as we expand our presence throughout the African continent," he said in a statement. "The representative office will act as a focal point to explore and develop investments in Tanzania's petroleum and energy sectors."

The office is the first for the Omani oil company in Tanzania. OOC offered no prospects in terms of exploration or production in the country.

Wood Mackenzie, an energy consultant group, published a report in October describing East Africa as an emerging frontier for energy companies.

Kenya is expected to be one of the bright spots in the region, though the report said complementary developments in Tanzania, Mozambique and Uganda could translate to a regional production increase from the current rate of 500,000 barrels of oil equivalent per day to 1.5 million barrels of oil equivalent.

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