With President Irfaan Ali stressing the need to expeditiously move to develop the country’s oil and gas resources, the government on Friday launched the licensing round for 14 offshore oil blocks.
“We have a situation where there is a timeframe on oil and gas development. We understand the direction in which the world is going, so it is very important for us to have developers who are serious, who will expeditiously move towards developments of the oil and gas resources,” Ali said in an announcement broadcast on his Facebook page yesterday morning.
He added that April 14, 2023 has been set as the deadline for the close of submission for bids and contracts are expected to be awarded by the end of May, 2023, following evaluation of bids and negotiations.