Petroleum Africa
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Friday, December 6, 2013
Bowleven confirmed that it was one of the winners of acreage in Zambia’s international licensing round. The company was notified by the Ministry of Mines, Energy and Water Development that its bids for blocks 25, 28, and 29 were successful.
Following this notification, and as part of the formality of the award process, Bowleven has now applied for the petroleum exploration licenses over these three blocks. Confirmation of award is expected from the Zambian ministry in due course.
The three blocks lie in the extensive and under-explored Luangwa Rift Valley which last saw exploration activities in the 1980’s. The Luangwa valley comprises a major north-east to south-west trending rift basin and regional evidence suggests that the critical elements of a petroleum system are present. The initial exploration period includes a minimum committed work program estimated at approx. $500,000.
Kevin Hart, Chief Executive of Bowleven plc, said: “We are delighted to have potentially secured exploration acreage in Zambia, expanding our significant exploration portfolio beyond Cameroon and Kenya.”
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