CNOOC Wants to Explore for Oil, Gas in Tanzania
China National Offshore Oil Corp (CNOOC) is looking to enter Tanzanian oil and gas exploration space and has applied for a licence, Reuters reported earlier this week.
"China's CNOOC has shown interest in investing in oil and gas exploration in the country," Tanzania's energy and minerals ministry said in a statement, according to Reuters.
If granted a license, Chinese giant will become the 17th company looking for oil and gas in Tanzania, Reuters added.
East Africa, mainly Tanzania and Mozambique, has seen a spate of large gas discoveries in recent years which has attracted numerous global energy players. Tanzania is hoping to become a major player in the energy space and needs foreign investment in the sector.