Petroleum Africa
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Tuesday, July 5, 2016
In keeping with its frontier appetite, Tullow Oil has picked up a license in Zambia. The company was awarded Petroleum Exploration License 28 in June. The acreage is onshore Zambia in the East African rift play and covers 55,000 sq km.
Tullow said in its operating update that the license builds on its existing low-cost, core East African Tertiary rift basins, giving it access to three further unexplored basins.
Within the first two years of the license, Tullow plans to complete initial geological studies, acquire an FTG survey and collect passive seismic data. If the results are positive the company will then carry out the acquisition of 2D Seismic over the block.
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