Some of the world's biggest companies have signed deals with Tanzania, hoping to gain access to the huge reserves of oil and gas discovered in the Indian Ocean.
However, a leaked contract between the government and the Norwegian and American giants Statoil and ExxonMobil has sparked controversy.
NGOs and journalists claim the contract, signed in 2007 and amended in 2012, will give the government only 30-50% of profits instead of an expected 60-85%.
But Tanzanian ministers say they have driven a hard bargain on all Production Sharing Agreements to get the best deal for the Tanzanian people.
The government has also promised to train 300 people in the oil and gas sector to ensure it has the necessary skills.
With the IMF estimating that the country could make $5-6 billion every year, Tanzanians should be excited at their future prospects. But many fear their country could go the way of so many resource-rich African nations.
http://www.presstv.com/detail/2014/09/03/377554/is-tanzania-cheated-out-of-petro-dollars/
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