By MAIMBOLWA MULIKELELA –

ZAMBIA has issued an international tender for oil explorations in 40 blocs of North-Western, Western and Eastern provinces after samples collected in 2007 confirmed traces of oil.
Preliminary geological surveys conducted in the three provinces, two of which share wide borders with oil-rich Angola, confirmed the presence of oil.
Mines and Minerals Development Minister Christopher Yaluma said  the Government of Africa’s second largest copper producer had issued international tenders for petroleum companies to explore oil in the 40 blocs.
He said this in an interview in Lusaka yesterday.
Local and international media houses are already running tender advertisements to entice potential investors to the southern African country.
Mr Yaluma said the ministry had earlier issued nine licences for  oil and gas exploration and had since invited interested investors for explorations in the 40 blocs.
“We have received proposals from investors in Uganda, Kenya, Ghana and other countries, which is good. I met with prominent investors dealing in oil and gas at the recent investment conference in London and they are keen to invest in the Zambian petroleum sector,” Mr Yaluma said.
He assured investors that elections to be held in August this year would not affect their investments because Zambia was a highly democratic country with set policies that protect investments.
Mr Yaluma said the invitation of international bids for the exploration of oil and gas was in accordance with the Petroleum Act of 2008.
The bidders should demonstrate a proven ability to raise the necessary funds, assets, machinery, equipment, and technical expertise to explore, produce, sell and dispose of petroleum in an environmentally-sustainable manner.
With the discovery of oil, Zambia is expected to once again change its fortunes and create jobs for the locals as well as rake in millions from  exports.