Taifa Gas, Amber Energy Strike Strategic Deal to Acquire Orca’s Tanzania Gas Assets

 


DAR ES SALAAM — Taifa Gas Tanzania Limited, owned by businessman Rostam Azizi, in partnership with Amber Energy Investment L.L.C-FZ, has entered into a definitive agreement to acquire the Tanzanian gas business of Orca Energy Group, including the strategic Songo Songo project.

In a statement released on April 13, 2026, Orca confirmed the signing of a final share purchase agreement for the divestment of its subsidiary, PanAfrican Energy Corporation (PAEM), which oversees all its gas operations in Tanzania.

Under the terms of the transaction, Taifa Gas will acquire a 49 percent equity stake in PAEM, while Amber Energy will take a 51 percent controlling interest, marking a significant shift in ownership to new investors.

Orca said the decision to exit the Tanzanian market follows a comprehensive strategic review of its operations, citing heightened business risks, including ongoing disputes, claims, and uncertainty over the renewal of the Songo Songo license and production-sharing agreements.

The transaction signals a major development in Tanzania’s energy sector, with Taifa Gas and Amber Energy positioning themselves to play a key role in the future of the country’s natural gas industry.

Comments

Post a Comment

Popular posts from this blog

Peace Is a Vital Resource for National Development, Must Be Protected – Mangu

Image
  Former Inspector General of Police in Tanzania, Ernest Mangu, has called on citizens to avoid actions that could disrupt peace and instead promote national unity, emphasizing that peace is a critical resource for the country’s development. Speaking in a special interview published by the Uhuru newspaper, Mangu warned that any signs of incitement or attempts to destabilize the nation should be condemned early, noting that the cost of losing peace is high and affects all sectors of the economy and social well-being. “We all have a responsibility to safeguard our peace. History shows that once peace is disrupted, the consequences are widespread, impacting the economy, investment, and people’s livelihoods,” he said. Mangu noted that Tanzania has built a strong reputation as a peaceful and stable country over the years, a factor that has helped attract investment and support social and economic activities. He stressed that these achievements must be protected and sustained through acc...
Read more

Treasury Registrar’s Office holds talks with Chinese Ambassador

Image
By the OTR Reporter Dar es Salaam. The Office of the Treasury Registrar (OTR) on Monday, May 18, 2026, held talks with the Chinese Ambassador to Tanzania, Chen Mingjian, and her delegation in a meeting aimed at strengthening economic cooperation, investment, and reforms of state-owned enterprises. The discussions took place during a visit by Ambassador Mingjian and her delegation to the Office of the Treasury Registrar (OTR) in Dar es Salaam. The meeting brought together the management of the OTR, led by Treasury Registrar Nehemiah Mchechu, and officials from the Chinese Embassy. The two sides discussed government investments, management of public companies, and strategic development projects. Speaking during the meeting, Mr Mchechu said the OTR is responsible for managing government investments in 308 entities and companies, out of which the government holds majority shares in 252. He noted that the total value of government investments in these entities stands at Sh92.3 trillion. He ...
Read more

Meteorological Update: TMA Forecasts Heavy Rains in Nine Regions Tomorrow

Image
  The Tanzania Meteorological Authority (TMA) has issued a weather advisory forecasting heavy rainfall across nine regions of the country tomorrow, as part of its ongoing seasonal outlook. According to TMA, the anticipated rainfall will be associated with strong winds and thunderstorms in several areas, particularly within the coastal belt and parts of the highlands. The agency noted that these weather conditions are driven by prevailing atmospheric instability and moisture influx over the region. Rainfall intensity is expected to be significant in the highlighted regions, raising the likelihood of localized flooding, especially in low-lying and flood-prone areas. Disruptions to transport and daily activities are also anticipated in areas that will experience prolonged downpours. TMA has urged the public to stay updated with official forecasts and advisories, and to take precautionary measures to reduce potential risks. Residents in vulnerable locations have been specifically advis...
Read more