Hamra Holdings Limited consultant, Grain Malunga has disclosed that the Airborne Geophysical Survey, popularly known as Kauniwuni on Lake Malawi has established the presence of oil deposits on the lake in Nkhata Bay, Rumphi and Karonga districts.
He made the remarks Thursday when his company briefed Fukamapiri Area Development Committee (ADC) on the progress made by the company in oil exploration exercise on Lake Malawi.
“In Nkhata Bay, oil deposits have been found in the area of Senior Chief Fukamapiri and Traditional Authority Malanda. That is why we are briefing Fukamapiri ADC on the development,” Malunga disclosed.
He said Hamra Holdings Limited has come up with an exploration plan to conduct onshore studies in the area focusing on outcrops of offshore oil traps.
“The onshore works will involve drilling of holes to ascertain the outcrops of hydrocarbon formation,” Malunga said.
Senior Chief Fukamapiri applauded Hamra Holding Limited for briefing the ADC on the status of the oil exploration exercise saying many investors just embark on projects in the area without his knowledge and the ADC.
“If Government issued license to this company who are we to reject to the oil exploration exercise?” he viewed.
The Chief said communities in the district anticipate the company would create employment opportunities especially for the youths.
Government issued the Oil Exploration license to Hamra Holdings Limited in Blocks 2 and 3 of Lake Malawi covering parts of Karonga, Nkhata Bay and Nkhotakota districts.