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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Management/Administration

Tanzania sets up special unit to scrutinise gas revenues and wealth fund

Posted on 15 August 2014

Tanzania’s government is forming a special unit to monitor its natural resource revenues from major gas discoveries that promise to lift the country from poverty and free it from dependency on foreign aid in the coming decades.
The east African nation has enough natural gas, more than 50.5 trillion cubic feet discovered so far, to provide energy independence and bring significant export revenues. But Tanzania lacks experience in exploiting oil and gas, so relies on contracts with foreign companies such as Statoil of Norway and ExxonMobile to develop its immense offshore finds………………………………………..Full Article: Source


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