Tanzania energy sector draws interest from Chevron as government prepares new licensing round

Published: 2026-05-14 01:15:08 ET CVX

Published on 05/14/2026 at 01:15 am EDT

US oil major Chevron Corporation (NYSE:CVX) is considering investment opportunities in Tanzania’s oil and natural gas sector after holding talks with Tanzania’s Petroleum Upstream Regulatory Authority (PURA) during the Africa Energies Summit 2026 in London, according to the agency.

Chevron Vice President Kelvin McLachlan said the company was seeking new investment destinations across Africa and viewed Tanzania as attractive because of its political stability, investor-friendly business environment and large natural gas reserves.

The discussions come as Tanzania prepares a new licensing round for onshore and offshore exploration blocks and pushes ahead with plans to expand its role in East Africa’s gas industry through the proposed liquefied natural gas export project.

Tanzania is seeking more foreign investment in its gas sector as global demand for alternative energy supplies rises. The country estimates it holds about 57 trillion cubic feet (1.61 trillion cubic metres) of recoverable natural gas reserves, mainly offshore, and is working to commercialise the resources to support exports and domestic energy demand.

Chevron has oil and gas operations in several African countries, including Nigeria, Angola and Equatorial Guinea, and is looking to widen its presence in the region.

PURA Director General Charles Sangweni said Tanzania has continued building a favourable and stable investment climate in the energy sector through legal, policy and regulatory reforms aimed at protecting both investors and national interests.

He said the government was improving the availability of petroleum data through geological and geophysical surveys while preparing another licensing round to encourage further exploration activity.

Sangweni added that Tanzania’s gas transportation and processing infrastructure and strategic location strengthened its position as an investment destination for major international energy companies.

The two sides also discussed cooperation on technology and long-term development in the sector.