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Thursday, October 25, 2018
Until it has undertaken geological surveys of its own, Rwanda has suspended exploration tenders for Lake Kivu. The government has halted bids from exploration firms for now, although it said it will invite them back after it completes its own surveys.
Rwanda is looking to reduce the costly financial risks before allowing international companies to carry out the latter stages of exploration. Once it establishes whether exploration will be worthwhile for the nation it will enter into partnerships with international oil explorers.
“The stage we are at is low-cost and involves geochemical analysis in Lake Kivu through coring. Coring involves digging shallow wells that are about 10 meters deep, and testing the samples in laboratories to see if they show indications of oil,” Francis Gatare, CEO of the Rwanda Mining Board told The EastAfrican.
“This is aimed at capturing enough information for private companies to take it up and for government to have meaningful partnerships,” Gatare said. He also added that there was no set timeframe for when the survey will be completed.
“Oil exploration is a long process and you cannot put a timeframe to it. We are doing it as the government but there is a point at which it will only make sense for it to be done by a private company,” Gatare was cited as saying in The EastAfrican.
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