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Zambia issues tenders for oil, gas explorations

Xinhua, March 31, 2016 Adjust font size:

The Zambian government has issued an international tender for oil exploration in 40 blocs in the country's 10 provinces, a notice seen by Xinhua on Thursday has shown.

The notice from the Ministry of Mines and Minerals Development, published in local media, is inviting tenders for explorations of oil and gas in 40 blocs of the country's 10 provinces.

The closing date for bid submission is April 15, 2016.

And Minister of Mines and Minerals Development Christopher Yaluma confirmed that the bid has been issued after samples collected in 2007 confirmed traces of oil, according to local media.

The Zambian minister said preliminary geological surveys conducted in the provinces confirmed the presence of oil hence the government's decision to issue international tenders for companies to explore for oil in the 40 blocs.

He told the Times of Zambia that the government had earlier issued nine licenses for oil and gas exploration.

"We have received proposals from investors in Uganda, Kenya, Ghana and other countries... I met with prominent investors dealing in oil and gas at the recent investment conference in London and they are keen to invest in the Zambian petroleum sector," he is quoted as saying by the paper.

The invitation of international bids for the exploration of oil and gas was in accordance with the country's Petroleum Act of 2008.

The bidders should demonstrate a proven ability to raise the necessary funds, assets, machinery, equipment, and technical expertise to explore, produce, sell and dispose of petroleum in an environmentally-sustainable manner. Endit