“If reactions to newly publicised information on oil monies is dominated by government, their narratives will become the default - the only narrative. We need an alternative voice that speaks from the perspective of the public benefit.” —Peter Bofen, Oil and Gas expert
55 trillion cubic feet
of natural gas reserves have been discovered in Tanzania
February 2016 End date
Off the coast of Tanzania, the discovery of 55 trillion cubic feet of natural gas reserves has put the country on the world energy map.
And the size of that discovery is expected to rise, along with the hopes of both the government and the citizens of Tanzania that revenue from these reserves can help transform Tanzania into a middle-income country.
But, natural resources have not always been a positive discovery in many counties. Tanzanians are keen to learn lessons from its predecessors on ensuring open and fair distribution of profits and on how to curb large scale corruption that has plagued many other resource-rich nations. One of the key issues that needs to be addressed is the negotiation of contracts for extracting natural resources, and the need for opening up essential information needed for calculating and monitoring potential revenue streams.
OpenOil is developing a series of public interest financial models for oil & gas contracts in Tanzania. Financial modelling is a tool which makes contracts, tax regimes and other financial information accessible, so it can be used to press for accountability or expose the gas & oil industry to public scrutiny.
The team will train 20-30 people from media and civil society in basic financial modelling. From them, a core Tanzanian modelling team (3-5 people) will be put together and linked to key stakeholders who will help make findings accessible to a broader public.
With this project, OpenOil aims to bring more openness and accountability to a sector that could be key for Tanzania's future.