{"id":1621,"date":"2014-08-14T15:10:49","date_gmt":"2014-08-14T12:10:49","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=1621"},"modified":"2015-09-07T14:39:07","modified_gmt":"2015-09-07T14:39:07","slug":"special-unit-to-monitor-tanzanias-natural-gas-revenues-sovereign-wealth-fund","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/special-unit-to-monitor-tanzanias-natural-gas-revenues-sovereign-wealth-fund\/","title":{"rendered":"Special Unit to monitor Tanzania\u2019s natural gas revenues, sovereign wealth fund"},"content":{"rendered":"<p>Tanzania has announced it will be forming a special unit that will look into the country\u2019s revenue from natural gas as the country prepares to start <a href=\"http:\/\/ow.ly\/AjI3O\">production<\/a> in the first quarter of 2015.<\/p>\n<p>Tanzania that has discovered just over 50.5Tcf reserves of natural gas both offshore and onshore hopes the special unit can help deal with corruption and ensure that the revenues can benefit especially the poor masses.<\/p>\n<p>This step is also in consideration that the country is yet to fully benefit from the mineral resources that it currently exports which include diamonds, uranium and gold with mining contributing 4.6 percent of GDP according to the Tanzanian Chamber of Minerals and Energy\u00a02011 figures.<\/p>\n<p>The country is also increasing the capacity of oversight bodies such as the controller and auditor general\u2019s office headed by Ludovich Utouh \u00a0which has sought technical support from Norway and Netherlands.<\/p>\n<p>&#8220;We are very excited and hope these institutions would help our people acquire necessary skills and knowledge to audit revenues from this industry,&#8221; Utouh was quoted by trust.org.<\/p>\n<p>Tha auditor general says his office needs to get the capacity to monitor the industry especially understanding the complex contracts for possible auditing.<\/p>\n<p>The biggest task for the unit however will be the audit of the sovereign wealth dfund that is expected to be created in 2015 to ensure that the country saves enough revenues for future generations.<\/p>\n<p>Meanwhile the country is set to send over 300 nationals from various professions including lawyers, accountants, auditors and engineers to train in the oil and gas industry and sub-sectors according to Energy and Minerals Minister Professor Sospeter Muhongo.<\/p>\n<p>\u201cThe target of 300 is in our martial plan to train local human capital. I am hopeful that in five years\u2019 time our country will have the largest number of local expertise in the natural gas and oil industry,\u201d Muhongo is quoted by the Tanzania Daily News.<\/p>\n<p>He was speaking during a ceremony to send off 10 students to study in China. \u00a0Tanzania also has students studying in various fields in oil and gas in various countries including Norway, United Kingdom and United States with another batch of 10 students set to leave for Brazil in January 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tanzania has announced it will be forming a special unit that will look into the country\u2019s revenue from natural gas as the country prepares to start production in the first &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/special-unit-to-monitor-tanzanias-natural-gas-revenues-sovereign-wealth-fund\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":1622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[1463,1587,1696,1700,1844,2390,2408,2466,2475,2478],"class_list":["post-1621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-ludovic-utouh","tag-ministry-of-energy-and-minerals","tag-natural-gas","tag-natural-gas-revenues","tag-oil-and-gas-industry","tag-sovereign-wealth-fund","tag-stephen-muhongo","tag-tanzania","tag-tanzanias-controller-and-auditor-general","tag-tanzanian-chamber-of-minerals-and-energy","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/08\/tanzania-flag.jpg?fit=274%2C184&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-q9","jetpack-related-posts":[{"id":4407,"url":"https:\/\/www.oilnewskenya.com\/index.php\/dodsal-strikes-gas-in-tanzanias-ruvu-basin\/","url_meta":{"origin":1621,"position":0},"title":"Dodsal strikes gas in Tanzania\u2019s Ruvu Basin","author":"","date":"February 28, 2016","format":false,"excerpt":"Tanzanian newspapers are reporting that United Arab Emirates based exploration firm Dodsal Resources has discovered natural gas in the Ruvu basin estimated to be 2.17 trillion cubic feet. The firm that signed the Production Sharing Agreement with the Government of Tanzania on October 23, 2007 is said to have discovered\u2026","rel":"","context":"In &quot;New Discoveries&quot;","block_context":{"text":"New Discoveries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/new-discoveries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Dodsal.png?fit=721%2C393&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Dodsal.png?fit=721%2C393&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Dodsal.png?fit=721%2C393&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Dodsal.png?fit=721%2C393&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":832,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-natural-gas-find-could-reach-200tcf\/","url_meta":{"origin":1621,"position":1},"title":"Tanzania natural gas find could reach 200Tcf","author":"Samuel Kamau Mbote","date":"April 1, 2014","format":false,"excerpt":"Tanzania\u2019s natural gas find could reach 200 trillion cubic feet in the next 24 months as the country continues to receive positive results from the ongoing deep offshore exploration. According to Tanzania Petroleum Development Corporation (TPDC) director of exploration, production and technical services Dr Emma Msaky the Tachui and Zafarani\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/lng1.jpg?fit=660%2C435&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/lng1.jpg?fit=660%2C435&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/lng1.jpg?fit=660%2C435&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3050,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzanias-increases-recoverable-natural-gas-resources-55tcf\/","url_meta":{"origin":1621,"position":2},"title":"Tanzania\u2019s Increases Recoverable Natural Gas Resources To 55Tcf","author":"","date":"June 8, 2015","format":false,"excerpt":"Tanzania has increased its estimated recoverable gas resources to 55.08 trillion cubic feet from the 53.2tcf estimate in October according to the country\u2019s energy and minerals minister George Simbachawene. The 18 percent increase follows discoveries by Statoil, BG Group, Ophir Energy and Exxon Mobil since June 2014 when resources were\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/block-3-tanzania.png?fit=512%2C441&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":516,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-lng-plant-site-may-be-announced-next-week-minister\/","url_meta":{"origin":1621,"position":3},"title":"Tanzania LNG plant site may be announced next week -minister","author":"Samuel Kamau Mbote","date":"February 14, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Story by Reuters Oil and gas firms working on a project to build a liquefied\u00a0natural gas\u00a0(LNG) export plant in Tanzania have picked a location, and the government has asked them to make their plans public as early as next week, Tanzania's energy minister said. An announcement of a\u2026","rel":"","context":"In &quot;News by others&quot;","block_context":{"text":"News by others","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/news-by-others\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/5-lng-ship.jpg?fit=550%2C413&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/5-lng-ship.jpg?fit=550%2C413&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/5-lng-ship.jpg?fit=550%2C413&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4544,"url":"https:\/\/www.oilnewskenya.com\/index.php\/dodsal-resources-to-invest-300-million-in-tanzanias-ruvu-basin\/","url_meta":{"origin":1621,"position":4},"title":"Dodsal Resources to invest $300 million in Tanzania\u2019s Ruvu Basin","author":"","date":"April 4, 2016","format":false,"excerpt":"Dubai based Dodsal Resources has said it will to invest another US$300 million in Tanzania over the next 24 months to support its exploration and production activities, including implementation of an Early Production System to bring Gas to the market. This will be the single largest investment by the company\u2026","rel":"","context":"In &quot;New Discoveries&quot;","block_context":{"text":"New Discoveries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/new-discoveries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Tanzania-Oil-Map-e1475611112349.png?fit=726%2C564&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Tanzania-Oil-Map-e1475611112349.png?fit=726%2C564&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Tanzania-Oil-Map-e1475611112349.png?fit=726%2C564&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Tanzania-Oil-Map-e1475611112349.png?fit=726%2C564&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":325,"url":"https:\/\/www.oilnewskenya.com\/index.php\/new-oil-gas-finds-is-east-africa-ready-for-sovereign-wealth-funds\/","url_meta":{"origin":1621,"position":5},"title":"New oil, gas finds: Is East Africa ready for sovereign wealth funds?","author":"Samuel Kamau Mbote","date":"January 4, 2014","format":false,"excerpt":"Story by The EastAfrican:- Sovereign wealth funds are fast becoming the \u201cmust-have\u201d for any natural resource-exporting country, and for any country hoping to commercialise reserves of oil, gas or minerals in the near future. East Africa has not been left behind, with Kenya, Uganda and Tanzania all considering the establishment\u2026","rel":"","context":"In &quot;News by others&quot;","block_context":{"text":"News by others","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/news-by-others\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/eaoil11-eapetrolsyst.jpg?fit=776%2C516&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/eaoil11-eapetrolsyst.jpg?fit=776%2C516&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/eaoil11-eapetrolsyst.jpg?fit=776%2C516&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/eaoil11-eapetrolsyst.jpg?fit=776%2C516&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=1621"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1621\/revisions"}],"predecessor-version":[{"id":3616,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1621\/revisions\/3616"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1622"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=1621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=1621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=1621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}