Petroleum Africa
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Wednesday, May 17, 2017
Zanzibar Petroleum Regulatory Authority (ZPRA) revealed that the commercial exploration and production of oil and natural gas will commence after a minimum period of eight years. According to a Daily News report, ZPRA’s Deputy Director General, Ali Bakar, said that the survey of oil and natural gas was going through various stages.
Bakar said there were six steps that needed to be taken in the exploration of oil and Zanzibar was only on the first of the steps.
“The cost of getting data for oil is too high … the work of gathering the information you need costs about $20 million,” said Bakar, emphasizing that the business of oil and natural gas extraction requires large capital. “You may dish out such large amount of money and yet find out that the available deposits are not commercially viable,” he added.
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