[wanabidii] INVEST IN AFRICA(N) OIL AND GAS?

Subject: [UDADISI: Rethinking in Action] INVEST IN AFRICA(N) OIL AND GAS?

It was puzzling to observe the shirts that Sunderland's players wore in their English Premier League's (EPL) game against Arsenal yesterday! According to Soccer Blog, the "invest in Africa" logo/advert is a campaign from Tullow Oil that sponsors the shirt. "In the modern world", the person responsible for striking the sponsorship deal claims, "investment in Africa is an opportunity for investment to bounce back into Sunderland and into the wider North-east". As we know, the annals of economic history has many a cases of how Africa has been Euro-America's shock absorber. Interestingly, the company's website has this update on Tanzania:

Tullow has an interest in two onshore licences in the Tanzanian portion of the Ruvuma Basin with partners Aminex and Solo. The combined 12,360 sq km acreage lies approximately 500 km south of Dar es Salaam, along the Mozambique border and comprises of the Mtwara and Lindi licences. The licences are adjacent to the Mnazi Bay gas field which was discovered in the 1980s. Tullow acquired the licences through the acquisition of Hardman Resources in January 2007 and drilled the Likonde-1 well in April 2010.

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Posted By Blogger to UDADISI: Rethinking in Action at 8/19/2012 06:27:00 AM