Tullow Oil Zambia, Country Director Sixtus Mulenga says his company has been grunted a ten year licence by Government for oil exploration along the Tanganyika and Mweruwantipa basin in Northern and Luapula provinces.
Dr. Mulenga disclosed this in Kasama during a stakeholders’ sensitization meeting for heads of government departments and parastatals.
He told the stakeholders that the exploration of oil in the two provinces will take a period of four years and will involve conducting of appraisals and surveys of the targeted areas.
Dr Mulenga said the targeted areas include Mporokoso, Nsama and Kaputa districts in Northern Province and Mwense in Luapula.
He said it has been found that countries which are along the rift valley system have possibilities of having oil deposits adding that the Zambian rift valley has a huge potential for oil as well.
Dr Mulenga explained that the Zambian government will have a huge stake in the oil once it is discovered.