The Times of Zambia (Ndola)

Zambia: Seven Companies Bid for Petroleum Exploration

THREE Zambian companies are among the seven bidders who have been awarded the licence to explore petroleum in three provinces as the Government has called for immediate commencement of the works.

Mines and Minerals Development Minister Maxwell Mwale announced the seven successful bidders for the 11 demarcated petroleum exploration blocks at a Press briefing in Lusaka yesterday.

Only one bidder out of the eight companies shortlisted about a fortnight ago has been left out while the 12 remaining blocks in three provinces will be re-advertised.

Mr Mwale named the successful local companies as Majetu, which has been offered two blocks in North-Western Province, and Barotse Petroleum Company, which has been given two blocks in Western Province.

Another local firm, Chat Milling Company of Lusaka will explore in two blocks in North-Western Province and another block in Western Province.

The foreign companies are Petrodel Resources of Britain, GB Petroleum of Britain, Glint Energy of United States of America and Exile Resources of Canada.

Petrodel, which is one of the leading African oil exploration and trading companies, is actively involved in the international markets.

It was established about 15 years ago and is engaged in business in more than 20 African countries.

Information available on its website shows that the company is focused on bringing value to Africa's oil and gas sector with assets in Nigeria, Ghana and Tanzania.

Petrodel's strategy is based on developing regional systems, from exploration and development of oil and gas reserves through crude trading, processing, supply, storage and wholesale distribution of refined products, to shipping and ship's agency services.

Exile Resources on the other hand is an independent oil and gas company focused on development and production projects in sub-Saharan West Africa.

The company is acquiring a number of projects in Nigeria and intends to develop the fields over the near to medium term.

It plans to increase its portfolio with attractive exploration and development opportunities in Nigeria and across the Gulf of Guinea.

Glint Energy is a Texas oil and gas energy company with target assets in North America, South America, East Africa, the Middle East and now Zambia.


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