Former Republican President Mr Rupiah Banda says African Oil and Gas Sector has an established legacy of Strong performance in the energy sector.
Mr Banda said several long-time members of the organization of the petroleum Exporting countries (OPEC) like Angola and Nigeria has created strong predictor of success.
Speaking during the Africa oil and power 2018 conference in Cape town were he also bestowed honours to the OPEC Secretary General Muhammad Sanusi Mr Banda said new relationship blossom this year as several African Countries including Equatorial Guinea and the Republic of Congo joined the OPEC as the organisation’s newest Members.
He said Zambia Oil and Gas exploration resumed with enthusiasm in 2000 following the discovery of oil and gas in Uganda and Kenya in the great East African Rift Valley.
Mr Banda added that Independent oil Companies have played a pivotal role in exploration and development of Africa’s resources especially in the frontiers Markets.
He noted that Zambia and other African Countries should learn from Nigeria and Equatorial Guinea on the exploration of oil and gas.
He disclosed that Zambia and throughout African independent Oil Companies like Oranto and bowleven petroleum are strong leaders in the sector.
Mr Banda Mentioned that Zambia will rise to the task and create an enabling Fiscal regime that will grow local banking and finance to be part of the exploration success story.