GOVT TO ISSUE MORE OIL EXPLORATION LICENCES

GOVERNMENTwill issue more licences for petroleum exploration in order to ascertain the availability of the resource in the country, Mines and Mineral Development Richard Musukwa had said.

He said that Gvernment resolved that next year a number of licences would be issued to local and foreign investors.

Mr Musukwa said that the country had a number of oil blocks but no investors had done exploration.

Therefore, he said, it was important that licences were issued so that the country could have the commodity readily available. He said that Kabompo district in North western Province was among of the areas which had oil blocks but had not beenbeen explored.

The Minister said it was prudent that more licences were issued so that investors could do exploration in the oil blocks.

He also disclosed that K500, 000 had been allocated for mapping programme to identify more oil blocks in the country.

Mr Musukwa said this would help to attract more investment in the sector.

Mr Musukwa said: “The ministry will enhance monitoring and inspection of petroleum exploration licences in various strategic licence blocks across the country in terms of compliance."

“We need to know whether the licences which have been issued to various people are active because we cannot allow people to hold on to the licences when they are not doing anything.

"We want to ensure that all the licences which have been issued are active. Petroleum is very cardinal to this country if investors start to explore it. The country will be able to earn more revenue from this commodity,” Mr Musukwa said.