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sharing in governance of extractive industries

THE TANZANIA PARLIAMENT TO INVESTIGATE PSAs

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Comment by Antipas Massawe on January 10, 2018 at 15:59

I think this is good news, and very necessary.

I hope the Parliament will consider that the oil and gas companies are operating as contractors in our oil and gas sector to earn from the services  and supplies they invest in their finding, development, exploitation, processing and delivery of our oil and/or gas resources to the markets using the seed monies they borrow in on our  behalf; and, the government is their client who would earn the whole balance of the oil and/gas revenues which would be generated by the Contractors after deductions for the repaying back of the seed monies borrowed  in, and  the monies which  would reinvested to refinance continuing production of oil and gas; plus, taxes on the revenues the oil and gas contractors would earn from the services and supplies they will invest in.  

That is, the main purpose of what the Parliament’s  investigation should be to ensure that the taxes on the revenues oil and gas companies would earn from the services and supplies they invest in our oil and gas sector would be paid accordingly; and that, the government will earn the whole balance of the oil and/gas revenues which would be generated by the oil and gas contractors after deductions for the repaying back of the seed monies borrowed in, and  the revenues which  would be reinvested for the refinancing of continuing oil and gas production.   

The oil and gas contractors would deserve а share of the balance of the oil and/gas revenues which would be generated after deductions for the repaying back of the seed monies borrowed in, and the revenues which would be reinvested for the refinancing of continuing oil and gas production only if they will also be contributing from own pockets а share of the monies repaying back the seed monies borrowed and/or reinvested in for the refinancing of continuing oil and/gas production.

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