Petroleum exploration and production act 1980 tanzania pdf
File Name: petroleum exploration and production act 1980 tanzania .zip
Undoubtedly, the future economy of Tanzania depends on extractive industry as means of economic expansion being both a usable resource as well as a commodity for international trade and finance. Together, oil and natural gas may bring Tanzania unprecedented mobility, help generate electricity, and are used to produce everything from agriculture fertilizers to synthetic clothing to product packaging and countless other items. Moreover, following the recent discovery of oil and gas in Mtwara, arose a need to put in place comprehensive laws to properly govern the oil and gas resources in the country.
the Petroleum (Exploration and Production) Act 1980
With over 50 trillion cubic feet of gas finds, Tanzania continues to attract a lot of attention especially from international oil and gas investors. Economists complain that the inward investment is mainly in the oil and gas sectors with not as much investment in manufacturing and financial services. With elections in October , new leadership is expected considering that the current President has been in office for two terms, a stronger opposition party, it is expected that in the next 12 months there will be more accountability in government, increased tax collections and a close watch on non performing Ministries and Ministers. This is a welcome decision for large scale projects that the country desperately needs. The Tax Administration Act , which is aimed at modernising tax administration provisions and consolidates these within one piece of legislation, also came into force. Matters covered include tax laws and their interpretation, communication and documentation, tax returns, access to information and assets, assessments and objections, payment, recovery, remission and refund of tax, tax proceedings, interest, penalties and offences, transition and saving provisions and consequential amendments to other legislation. The interplay between this legislation and other tax laws has yet to be tested and if not managed well is likely going to lead to increased tax litigation.
Though some exploration took place earlier on, with companies such a Shell, involved in Kenya in the s or in Uganda in the s 1 , a new frontier opened up during the last 10 years. Previously, companies were not making much effort to find the precious hydrocarbons in the region. During the last decade, oil consumption has drastically risen worldwide. China and other Asian economies are driving the market up by increased demand. This recent increase of daily oil consumption led petroleum firms to look for new reserves. Eastern Africa finally came into their radar and heavy exploration began in with the activities of two minnows, Tullow Oil and Heritage Oil, drilling wells around Lake Albert in Uganda. In the past, the two concerns have known success after success and added to the market billions of barrels of new oil.
This article examines the extent to which the legal and management framework governing the rapidly developing oil and gas industry in Tanzania provides access rights to key stake- holders. The focus on management and access rights has been confined to rights to access the resource by the government, the private sector and the local communities. The article sets out the historical context that is necessary for a thorough understanding of the develop- ment of the industry and the legal and regulatory framework put in place by the government to address issues of management, to access rights and to control of the industry. These laws were passed towards the end of in a charged session of the Parliament of the United Republic of Tanzania which was the last before the gruelling National Elections that followed. Members of the opposition Parties in Parliament had cried foul, alleging that citizens had been hood-winked arguing that the process of presenting the Petroleum Bill had been unnecessarily fast-tracked. The main focus is on Tanzania Mainland.
ENACTED by the Parliament of the United Republic of Tanzania. PART I. PRELIMINARY. This Act may be cited as the Petroleum (Exploration and Production).
Tanzania setting its footprint
It has set up an independent judiciary, among other organs of the State and does recognize the sacred right of individuals to acquire and own property. Legislations passed since to improve the investment climate in Tanzania include: -. Tanzania Investment Act, No. It provides definitions for inter alia local investor, foreign investor and local capital. This Act does not, in terms of Article 2, apply to: -.
- Что скажешь. А потом мы могли бы… - Выкинь это из головы. - Сколько в тебе снобизма. - Хейл вздохнул и повернулся к своему компьютеру. В этом вся ее сущность.
Главное помещение представляло собой громадную округлую камеру высотой в пять этажей. Ее прозрачный куполообразный потолок в центральной части поднимался на 120 футов. Купол из плексигласа имел ячеистую структуру - защитную паутину, способную выдержать взрыв силой в две мегатонны. Солнечные лучи, проходя сквозь этот экран, покрывали стены нежным кружевным узором. Крошечные частички пыли, пленницы мощной системы деионизации купола, простодушно устремлялись вверх широкой спиралью.