Published On: Mon, Apr 4th, 2016

Statoil to award winners of Heroes of Tomorrow competition in mid April

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By Tanzania Reports correspondent
Statoil will award the winner of the second season of the Heroes of Tomorrow Business Competition mid this month.

In promoting and supporting youth in Tanzania, Statoil established a business competition to raise entrepreneurship spirit for youth in Mtwara and Lindi Regions.

From over 400 business ideas submissions to the competition, the Grand Finale event will be held to award the winner of the second season of the Heroes of Tomorrow Business Competition.

The competition which is funded by Statoil, an oil and gas company, was inaugurated end of November last year at an event to re-open the library of Mtwara region which was refurbished by the company, an initiative which cost the company more than 40 million shillings..

Heroes of Tomorrow competition invites young people aged between 18 to 25 years in Mtwara and Lindi offer their thoughts on entrepreneurship and kind of glad they want to do in order to increase their income and contribute to development activities in their regions.

Speaking about the participation early this year, the competition manager from Statoil Mr. Erick Mchome said the company is pleased to see how young people from the southern regions have been able to respond to such an opportunity that was given by Statoil.

Of the 450 youth who participated by providing a wide range of business ideas for competition, Statoil will choose the best 40 ideas and the owners of these ideas will be given a one-week training on how to write a business plan .

The Heroes of Tomorrow Business Competition was first launched by Statoil Tanzania in September 2014 and has been a great success. Over five hundred business ideas were received from youth in Mtwara region and an overall winner was awarded.

This year Statoil Group celebrates 10th years anniversary since the launch of the Heroes of Tomorrow sponsorship campaign which targets youth in countries of operation.

Statoil is an international energy company with operations in 37 countries. In 2007 Statoil signed a production sharing agreement (PSA) for Block 2 with Tanzania Petroleum Development Corporation (TPDC).

Statoil Tanzania AS is the operator with 65% working interest with ExxonMobil Exploration and Production Limited as a partner with 35% interest.
Since 2012 Statoil and its partner have made significant discoveries in Block 2, which proved 22 Tcf of gas in-place volumes and mark an important step towards a possible natural gas development in Tanzania.

Statoil is headquartered in Norway with approx. 22,000 employees worldwide, and is listed on the New York and Oslo stock exchanges.

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