Oman Oil Company (OOC) has announced the opening of its first overseas representative office in Dar es Salaam, Tanzania, as part of its broad investment programme to increase its presence in key growth markets.
Operating under the name Oman Energy Limited (OEL), Oman Oil Company will work alongside Oman Trading International, a petroleum trading company and also an OOC majority-owned interest, to support activities and pursue investment opportunities.
“Commencing operations in Tanzania is an important milestone as we expand our presence throughout the African continent,” said Nasser bin Khamis Al Jashmi, undersecretary at the Ministry of Finance and OOC chairman. “The representative office will act as a focal point to explore and develop investments in Tanzania’s petroleum and energy sectors.”
Al Jashmi continued: “With the accelerated agricultural growth in Tanzania, Oman Oil Company is considering potential investments in the fertiliser sector. In addition, the development of energy infrastructure and coal mining are other opportunities being considered as part of our investment roadmap in the country.”
OOC is a company wholly-owned by the government of Oman that was established in 1996 to provide a vehicle for pursuing investment opportunities in the energy sector both inside and outside the sultanate.