Zanzibar’s inaugural licensing bid round has garnered significant interest from international oil companies (IOCs).
The Zanzibar Petroleum Regulatory Authority (ZPRA), the petroleum regulator of the semi-autonomous region of the United Republic of Tanzania, is optimistic about securing a deal for its 8 oil blocks.
Although the exact number of interested IOCs is undisclosed, ZPRA authorities expressed satisfaction with the response.
The bid submission deadline is set for Monday, December 16, 2024.
This development marks a significant milestone in Zanzibar’s efforts to develop its oil and gas sector, and the successful conclusion of the bid round is expected to attract substantial investments to the region.
Source: https://energynewsafrica.com