Tanzania Petroleum Development Corporation

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Tanzania Petroleum Development Corporation
Parastatal
IndustryPetroleum and Natural gas
Founded30 May 1969 (1969-05-30)
Headquarters,
Key people
J. P. Mataragio (MD)
OwnerTanzanian Government (100%)
Number of employees
400
SubsidiariesPetrotan
Gasco
Websitetpdc.co.tz

The Tanzania Petroleum Development Corporation (TPDC) (Swahili: Shirika la Maendeleo ya Petroli Tanzania) is the national oil company of Tanzania and owner of all licenses for energy development in the country.TPDC was established through the Government Notice No.140 of 30 May 1969 under the Public Corporations Act No.17 of 1969. The Corporation began operations in 1973. TPDC is a wholly owned Government parastatal, with all its shares held by the Treasurer Registrar.[1] In the summer of 2015, the Parliament of Tanzania passed three legislative Acts dealing with energy and directly impacting TPDC: the Petroleum Act 2015, the Tanzania Extractive Industry (Transparency and Accountability) Act 2015, and the Oil and Gas Revenues Management Act 2015.[2]

According to The Economist, "Estimates put the country’s reserves at a little over 50 trillion cubic feet of gas, a figure the government thinks may double as additional exploration wells are drilled, making them potentially a considerable potential source of revenue."[3]

References[edit]

  1. ^ Sam Moyo, Michael Sill; et al. (1 April 1999). Energy policy and planning in Southern Africa. SARIPS of SAPES Trust, Regional Office. ISBN 978-1-77905-096-0.CS1 maint: Explicit use of et al. (link)
  2. ^ "EY Global Tax Alert: Tanzania enacts legislation impacting the oil and gas industry" (PDF). Ernst & Young. Retrieved 7 January 2016.
  3. ^ "Tanzania's troubles over gas revenue Sharing the spoils". The Economist. Retrieved 7 January 2016.