Zanzibar has extended the bid submission deadline for its first licensing round to December 16, 2024 – a three-month extension from the initial deadline of September 16.
The extension, announced by Zanzibar’s Minister of Blue Economy and Fisheries Shaaban Ali Othman, aims to provide international oil companies with a more accommodating timeline to prepare and submit proposals for available offshore blocks.
The licensing round features eight offshore oil and gas blocks and was launched last March by Zanzibar’s President and Chairman of the Revolutionary Council, Dr. Hussein Ali Mwinyi, initially providing a six-month period for bid submissions.
Zanzibar has emerged as a promising oil and gas frontier with untapped hydrocarbon potential, featuring signs of a working petroleum system from existing 2D seismic data.
