The Minister of Mines, Energy and Water Development of Zambia, Yamfwa Mukanga, confirmed the award of blocks that the government put up for auction earlier this year.
The block awards went to Troisad with Block 8; blocks 25, 28, and 29 went to Bowleven; Segocoa was awarded stakes in blocks 29 and 43, Rift Petroleum scored blocks 40 and 41; while Surestream picked up Block 42.
Swala Energy, who bid on blocks 31, 42, and 44, was not awarded a stake in any of the three; however, it still has hopes of gaining access to Blocks 31 and 44.
Dr. David Mestres Ridge (CEO) of Swala said, “The bidding process has been a long and competitive one, and our Zambia team has worked tirelessly to advance the company’s interests. We are obviously disappointed not to have been awarded Block 42 in Zambia but look forward to a more positive outcome with the remaining bids for Blocks 31 and 44.”
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