Malawi aims next year to debate fresh oil and gas legislation following a review process to revamp the 1983 Petroleum Act, due to conclude in December.
The delayed release of the country’s revised Petroleum Policy is now expected in November this year. Some 60% of designated acreage, divided into six blocks, lies on land adjacent to Lake Malawi with several already allocated under regulations promulgated in 2009.
South Africa-based SacOil vice president Jordaan Fouche told a mining conference in the capital Lilongwe that the company is considering further investment upon the renewal of block-1, located entirely onshore abutting the northern border with Tanzania.
Other players in Malawi include Emirates-based Hamra Holdings and RakGas, UK-based Surestream Petroleum and Singapore’s Pacific Oil & Gas.