Tanzania lays down the law for licensing round

摘要

Tanzania left nobody in doubt about its intention to take a firm hold on its upstream future when it announced at the opening of its new eight block licensing round that it will take up to 75% in each for itself. "The production-sharing formula will either be 35% to investors and 65% to the government or 25% to them and 75% to us," Tanzanian President Jakaya Kikwete said when launching the fourth round. Officials at national oil and gas company TPDC later said the company would only take the stakes in the event of a commercial development.