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Tuesday, March 22, 2011
A new international tender for exploration acreage has been launched by the Zambian government. The government is offering up to 22 oil blocks in six provinces. According to the tender the government is looking for companies who have the proven ability to raise the necessary capital, machinery, and technical expertise.
New bidders are expected to be selected by Q3 of this year.
There have been two previous tenders issued by the government, one in November 2009 and one in June 2010, which attracted more than a few bidders. Work on the awarded blocks is expected to start after the rainy season.
The country's minister of mines and minerals development, Maxwell Mwale said, “We expected companies already licensed to start exploration work immediately after the current rainy season.”
Zambia's rainy season is expected to subside around April.
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