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Thursday, March 21, 2024
The Revolutionary Government of Zanzibar and Ministry of Blue Economy and Fisheries has successfully launched Zanzibar’s 1st Licensing Round, which invites bids for eight blocks totaling 31,883 sq km.
The blocks, situated offshore to the east of the Unguja and Pemba Islands within water depths between 500 meters and 3,000 meters, represent a large frontier area and form part of a five-year exploration road map. The blocks that will be offered under the 1st Licensing Round include Block 1-A, Block 1-B, Block 1-C, Block 1-D, Block 1-E, Block 1-F, Block 1-G, and Block 1-H.
The Ministry of Blue Economy and Fisheries has defined the bid round areas through prospectivity assessment with encouraging results with exclusive data supplier, SLB. A total of 10,145 linear kilometers of 2D seismic data is available pertaining to the blocks.
Commenting on the potential his country offers, His Excellency, the President of Zanzibar and the Chairman of Revolutionary Council Dr. Hussein Ali Mwinyi said, “On behalf of the Revolutionary Government of Zanzibar, I am delighted to welcome investors to take advantage of the enormous opportunities available in our country.”
Strategically located, and benefiting from political, social and economic stability, Zanzibar aims to build a resilient economy for the benefit of its people through the sustainable development of its offshore petroleum resources. That strong political will to drive investment is coupled with renewed fiscal terms to enhance the investor environment in the oil and gas sector, including the constitutional protection of private investments.
Reflecting the flexibility offered around licensing options, Shaaban Ali Othman, Minister for Blue Economy and Fisheries added: “I would like to assure the exploration and production companies and investors that our doors are open. We are looking forward to your engagement with the Ministry of Blue Economy and Fisheries and our regulator, Zanzibar Petroleum Regulatory Authority.”
Zanzibar Petroleum Regulatory Authority (ZPRA) Managing Director, Adam Abdulla Makame commented: “In order to ensure its statutory roles are undertaken in a safe, healthy and adherence to good environmental practices and in the end deliver maximum benefits to the Zanzibaris, ZPRA continues committed to ensure a conducive environment for investors. We welcome potential industry partners to reach out to Zanzibar’s regulator to engage in discussions.”
For further information, interested parties should visit the official website of the Zanzibar 1st Licensing Round.
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