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Zanzibar President assents to isle's oil and gas law

Xinhua, November 16, 2016 Adjust font size:

President of Tanzania's semi-autonomous Zanzibar archipelago, Ali Mohamed Shein on Tuesday assented to Oil and Gas Bill 2015 which gives the Isles' government go-ahead to explore the natural resources.

In his speech he made soon after signing of the Bill, Shein stressed that the document ill provide powers to Zanzibar to continue developing its natural resources for the benefits of the people.

He said before the law it was not possible for Zanzibar to start exploring its natural resources.

"Some explorers could not continue with exploration because there was no law governing the exploration of gas and oil," he said.

He added that the new law will open a new chapter in investment in the oil and gas sector.

Shein noted that the next step after signing of the law is to form an institution and also called on the public to exercise patience as the benefits of investing in gas and oil may take up to eight years to be realized. Endit