By Chinoyi Chipulu
Oil Marketing Companies Association of Zambia (OMCAZ) president Dr. Kafula Mubanga, says developing an oil exploration and production policy will enhance the energy sector.
Speaking in an interview yesterday, Mubanga said the country had oil deposits which called for the need to expedite the process of enforcing the exploration framework.
He said it was imperative that the framework was enforced, as it would allow the production of oil locally, which would have a positive impact on the price of fuel in the country.
“It’s important that the framework is enforced to allow us to be able to produce gas in this country and obviously that will have an impact on the cost of fuel, cost of living, so it’s very exciting news to us. There should be willingness from the government so that those policies are implemented. There is need for a political will that we should be able to begin drilling our own fuel,” he said.
Dr Mubanga said producing oil locally would not only attract foreign and local investments, adding that the country had the capacity to do so, if the policy was to be implemented by the government.
“The absence of the exploration and production policy undermines the development of the sector in the country,” he said.
Dr Mubanga also said the move may not be fully supported by some stakeholders that would want to optimize on profit, hence the need for a political will to push for the implementation of the policy.
“There is need to embrace utilisation of local innovations and partnerships which has the potential to trigger growth of the sector,” said Dr Mubanga.
