Africa Natural Resources: Mozambique and Tanzania will lead Africa oil “boom”

Mozambique Oil & Gas Industry
Mozambique Oil & Gas Industry

A study conducted by the South African company PriceWaterhouseCoopers (PWC) reveals that the industry of oil and gas in Africa will reach its boom in the coming years, with Mozambique and Tanzania to be the main producers as the governments of the two countries attract more investment in the hydrocarbons sector.

The study indicates that six discoveries in a global universe of 10, were made in 2013 in various parts of Africa, and currently there are over 500 companies already exploiting hydrocarbons.

The discoveries of natural gas reserves in Mozambique and Tanzania will cause the world to consider the pass region of East Africa as a major producer of oil and gas to level all the hydrocarbons industry, according to Chris Bredenhann, the company advisor.

Bredenhann said the boom that has seen the sector is already reflected in attracting new investments in Africa, despite corruption and problems related to the lack of infrastructure and regulation.

 

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