Latest News:  


Zambia gives 12 oil exploration firms default notice


08:23, July 25, 2013

LUSAKA, July 24 (Xinhua) -- The Zambian government has issued default notices to 12 local and foreign companies for failing to commence work within 90 days of granting the license, the Post of Zambia reported on Wednesday.

According to the country's law on petroleum exploration and production, a license holder should commence exploration within three months after being awarded the license and that the license holder should also give timely reports on the progress being made and challenges faced. The government had issued 17 petroleum exploration licenses to 12 companies that were currently carrying out explorations in seven of the country's 10 provinces.

"But these companies have not been following the regulations and we think they are holding on to the licenses for speculative purposes, so we have written to them and if they will not provide adequate answers, we have a right to cancel the licenses and invite interested companies to bid," Deputy Minister of Mines, Energy and Water Development Richard Musukwa said.

Among the foreign firms given exploration licenses are Exile Resources of Canada, Petrodel Resources of France, Mineks International of Turkey and Rapid African Energy Holdings of Mauritius. The local firms include Barotse Petroleum Limited, Mettproso-Frontier, Majetu, Mafuta Energy, Gapex, Chat Milling, Terralinna Zambia and ZCCM-IH. The Zambian minister said no oil reserves have been detected so far in areas where exploration work is going on.

Between 2007 and 2010, the country's Geological Survey Department carried microbial prospecting technique to assess the potential of oil and gas in the southern African nation and the findings of the survey revealed a presence of microscopical bacteria known as hydrocarbon oxidizing bacteria that feed on the hydrocarbon gases which seep to the earth's surface from a petroleum basin. The findings prompted the government to demarcate areas into blocks for interested companies to bid for prospecting licenses. The government recently announced that it had demarcated 77 new blocs for exploration of oil and natural gas deposits in efforts aimed at discovering new energy sources.

We Recommend:

Dachshunds attend annual Wiener Dog Racing

Collective gay wedding held in Mexico City

Best photos of week (July 8 - July 14)

'Temple Collection' on display in India

Bastille Day military parade held in Paris

Indian new recruits attend passiong out parade

Anti-government protest held in Thailand

Mexico's Popocatepetl Volcano spews ashes

Egypt unrest continues in Cairo

Email|Print|Comments(Editor:LiangJun、Yao Chun)

Leave your comment0 comments

  1. Name


Selections for you

  1. Special operation members in contest

  2. Members of PLA special forces

  3. New prince makes first appearance

  4. Bird's Nest adds new attraction

  5. 196 villagers' death-defying getaway

  6. Blast rips through bakery in Beijing

  7. 29 gorgeous castles from around the world

  8. Press of 'Crimes of Passion'

  9. China builds 'world's tallest building'

  10. Huawei H1 sales revenue up 10.8 pct

Most Popular


  1. Filmmaker: Chinese like good movies set anywhere
  2. Multinationals' dependence on China grows
  3. Skipping breakfast may increase heart disease risk
  4. Economic restructuring helps China's growth
  5. New thinking needed for Korean crisis
  6. Jobless rate to be 'last straw' for policy direction
  7. Abe should focus more on Japan's economy
  8. Are 'dark fairy tales' appropriate for children?
  9. Xi Murong: Poets and poetry never die
  10. Chinese brands should ‘be bold’

What’s happening in China

People hold funeral for deceased relatives in quake-hit region

  1. Court upholds death sentence for baby killer
  2. HPV vaccines among Chinese still a long way off
  3. Shanghai getting tougher on blood clam ban
  4. Woman marries driver who injured her in crash
  5. Parents squirm after spotting worms in diapers