Rwanda has paused bids from international oil explorers as it plans to conduct its own geological survey to establish whether it is worthwhile for the state to enter into partnerships with foreign explorers
This comes only days after a government official said the East African country was considering partnering with oil and gas companies for the next stage of exploring Lake Kivu for more hydrocarbons.
Rwanda’s Mines, Petroleum and Gas Board Chief Executive Officer, Francis Gatare noted that the country had completed the shallow drilling for geochemistry tests in the methane-gas-producing lake in the west of the country.
« At the right time, when we have de-risked the exploration exercise, we will make it known to investors, » he said.
Rwanda seeks to reduce costly financial risks before allowing international companies to carry out the latter stages of exploration.
« The stage we are at is low-cost and involves geochemical analysis in Lake Kivu through coring. Coring involves digging shallow wells that are about 10 metres deep, and testing the samples in laboratories to see if they show indications of oil, » Gatare explained.
The Express News