New unit to oversee Tanzania’s gas resources

DAR ES SALAAM, August 20, 2014 – A special unit that will monitor natural resource revenues in Tanzania is being formed now, before a predicted 2023 $3-billion-per-year gas boom hits an industry overshadowed by a lack of transparency.

The news comes after a leak of the amend done in 2010 to Statoil’s 2007 contract that seemingly indicated that the share of the profit oil to be directed to the country’s treasury was inferior than what had been published.

Tanzania’s Controller and Auditor General (CAG) Ludovic Utouh said the group would receive assistance from Norway and the Netherlands, “We are very excited and hope these institutions will help our people acquire the necessary skills and knowledge to audit revenues from this industry.”

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