Dar es Salaam, Tanzania — As East African states continue to explore for more oil and gas in their respective regions, Barrick Gold East Africa has said that they have invested $2b in Tanzania due to the great potential the country has in oil and gas.

Speaking to East African Business Week in Dar es Salaam last week, the President and Asset General Manager for BG East Africa, Mr. Derek Hudson said that Tanzania has a great opportunity and prosperous in oil and gas than other East African countries due to the availability of deep water.

"So far around $2bn has been invested by BG East Africa in oil and gas projects here," Mr. Hudson said, adding that his company will continue with its investment plans in Tanzania.

Hudson noted that Tanzania stands at a better chance of growing in the oil and gas industry due to the availability of the market for the products in the country.

He said his company is willing to build business with government in conjunction with the public that would aim at growing the country's economy.

"The investment we are making in the country is for the mutual benefit for all, Mr. Hudson said adding that despite the road for oil and gas being ruff and stiff he was optimistic that BG Tanzania will make it."

He however pointed out that the public need to be patient in the development of oil and gas as these investments takes time to benefit countries.

He underscored that the current investment his company was making will be able to produce oil and gas between 2021 and 2022, stressing that BG East Africa will focus much on training and offering scholarships to Tanzanians that will aim at equipping them with the relevant expertise in the oil and gas sector.

So far BG East Africa has spent around $40m on vocational training of Tanzanians in Lindi and Mtwara located on the Southcoast of Tanzania equipping them with skills which will later make them have access to jobs in the gas and oil sectors.

Dr. Antony Wyatt, a Geologist with Robert Gordon University in the UK stressed for the importance on training, saying both oil and gas sectors needed well trained personnel's and it was important for locals to be empowered with such trainings in order to make them access jobs in oil and gas sector in the county.

Wyatt said that for oil and gas industry to develop in the country it has to start with foreign expertise who will later train and transfer such expertise to locals as training needs both time and human resource.

"Oil and gas companies invest for years and short term gains are not good for both the government and oil companies" Dr. Wyatt said.