Zambia launches petroleum licensing round

Zambia launched its debut oil licensing round for 23 blocks in the northwest, west, and eastern provinces of the country.

Uchenna Izundu
OGJ International Editor

LONDON, June 25 -- Zambia launched its debut oil licensing round for 23 blocks in the northwest, west, and eastern provinces of the country.

According to Reuters, Zambia invited bids from oil companies with a closing date of Aug. 7 when they will be opened publicly.

Godwin Beene, permanent secretary for the ministry of mines and minerals development, said winning operators will need to show they have the cash, assets, technical expertise, and equipment to do exploration and production. Winners will be required to pay a nonrefundable $10,000 bidding fee.

There are oil traces in areas bordering Angola, according to the Zambian authorities.

Contact Uchenna Izundu at uchennai@pennwell.com.

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