We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sun 9 Feb 2014 03:20 PM

Font Size

- Aa +

Oman Oil Co picks Tanzania for first overseas office

State-owned firm says it is mulling new energy investments in African country

Oman Oil Co picks Tanzania for first overseas office
(Photo for illustrative purposes only)

State-owned Oman Oil Company on Sunday announced that it has opened its first office overseas as it looks to expand in key growth markets.

Oman Oil Company has launched its first representative overseas office in Dar es Salaam, Tanzania, the company said in a statement.

Operating under the name Oman Energy Limited, Oman Oil Company said it will work alongside its majority-owned, Oman Trading International (OTI) to support activities and pursue investment opportunities.

"Commencing operations in Tanzania is an important milestone as we expand our presence throughout the African continent. The representative office will act as a focal point to explore and develop investments in Tanzania's petroleum and energy sectors," said Nasser bin Khamis Al Jashmi, undersecretary for the Ministry of Finance and chairman of Oman Oil Company.

"With the accelerated agricultural growth in Tanzania, OOC is considering potential investments in the fertiliser sector, as well as the supply and marketing of petroleum products," he added.

He said the company was also looking at the development of energy infrastructure and coal mining as other potential opportunities for investment.

Oman Oil Company was established in 1996 to give the government ‎a vehicle for pursuing investment opportunities in the energy sector both inside and ‎outside Oman.

Arabian Business: why we're going behind a paywall

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.
Leon Bahati, 6 years ago

Is a good strategy as Tanzania is reach of mineral, gas and fuel. Tanzania need high investment to utilize those resources but with a good contract which can benefit Tanzanian who 80 percent of them are poor. Agriculture is another area which need good investor. All in all, new agricultural technologies is needed due to the impact of Climate Change.

farhiya Bint Al Habsy 6 years ago

hellow it's a very good step that oman investors have thought of, since we have very much resources but no investors to utilize them effectively, BUT HERE IS A QUESTION, WHERE ARE THE OFFICES ALLOCATED IN TANZANIA? CITIZENS WOULD LIKE TO KNOW, SO THAT THEY MAY SEND THEIR APPLICATIONS.