Dar es Salaam. Tanzania is seeking to attract more investment into its energy sector and increase local participation as African countries pursue joint solutions to the continent’s energy security challenges.
Ghana’s Minister of Energy, John Jinapor, said African countries need to work together to address energy security while keeping their markets open to investment.
Speaking on the first day of Africa Oil Week in Accra, Mr Jinapor said the continent’s energy transition should not overshadow the continuing challenge of ensuring reliable energy supplies for its people and economies.
“Despite the energy transition that is taking place, energy security remains a puzzle for Africa,” he said, stressing the need for countries to work together to determine how best to advance the energy agenda.
He said African countries should remain open to investment, promote competition in their markets and allow oil and gas exploration to continue as part of efforts to strengthen energy security.
Speaking on the sidelines of the conference, Tanzania’s Chief Geologist in the Ministry of Energy, Mussa Mussa, said the government’s 2015 Energy Policy provides a framework for local investors to participate in the sector, including through partnerships with companies with the financial capacity to undertake major projects.
He said such partnerships could enable Tanzanian investors to participate in projects requiring substantial financial resources.
On transparency in oil and gas contracts, Mr Mussa said Parliament provides an avenue for scrutinising agreements to determine whether they meet the required standards.
He said that Tanzania also participates in platforms promoting transparency in contracts, providing another avenue for accountability in the sector.
Africa Oil Week, being held in Accra for the second time, has brought together energy ministers, oil companies, regulators, industry stakeholders and oil and gas academics to discuss issues shaping Africa’s energy future.
