CTPD calls for urgent development of Oil Exploration and Production Policy.

LUSAKA — The Centre for Trade Policy and Development (CTPD) is calling on the
Meanwhile, Dr. Kambani revealed that CTPD has identified major issues affecting investments in oil and gas exploration and the first one is the absence of Oil and Gas Exploration and Production Policy, affirming that Zambia does not have an E&P policy, which is crucial for guiding investment activities in oil and gas exploration and production.

Dr. Kambani further stated that another major issue affecting investment is inadequate Provisions in the Petroleum (Exploration and Production) Act, 2008, and its Regulations saying exploration companies in Zambia have raised concerns regarding inadequacies in the legal and fiscal frameworks and have made proposals to the government.
Dr. Kambani observed that the government must urgently develop an Oil Exploration and Production Policy.
“Its absence is undermining the successful development of the sector. The Petroleum (Exploration and Production) Act, 2008, and accompanying regulations should be revised to address some of the concerns raised by key stakeholders which includes a clear definition of state participation and its size thereof.” Dr. Kambani