Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Companies

Zambia: Tullow Oil gets petroleum exploration licence for Block 31 in the Northern Province

Friday, 10 June 2016 11:02

(Ecofin Agency) - Tullow Oil has been granted a petroleum exploration licence for Block 31 in the Northern Province of Zambia by the government.

According to Tullow Oil’s Vice-President for Exploration, Ian Cloke, the company plans to invest $69 million for its exploration deeds in Zambia and Tullow will embark on geological and geo-chemical studies in the next two years around the Lakes Bangwelu, Mweru Wantipa and Tanganyika.

Zambia’s Minister for Mines, Christopher Yaluma, said the Petroleum Exploration Licence for Block 31 was part of the blocks that has high possibility for oil and gas in the Northern Province.

The Minister added that the exploration activities to be performed by the company will allow Zambians to have access to technical skills as the government is dedicated to making sure that the process was transparent and profits generated from any oil finds would be accrued to the people.

Yaluma said the ministry had begun an assessment of the Petroleum Act of 2008 so as to guarantee that the country becomes competitive in the oil sector, Bernama news reports.

Anita Fatunji

 
Finance


 
Mining


 
Telecom


 
Public Management


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

AGENCE ECOFIN
Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

EDITORIAL TEAM
redaction@agenceecofin.com

ADVERTISING SALES
Benjamin FLAUX
bf@agenceecofin.com
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72

 

Please publish modules in offcanvas position.