Scots exploration group Bowleven has landed three exploration blocks as it looks to strike oil off the Zambian coast.
The company, in which Aberdeen tycoon Ian Suttie snapped up a 5% stake last month, has applied for exploration licences for the three blocks after getting the go-ahead from the country’s ministry of mines, energy and water development.
The Edinburgh-based firm is set to spend more than £300,000 on investigating the blocks, which sit in the under-explored Luangwa Rift valey.
News of the licence win comes as the company revealed it was targeting seismic data for its block in Kenya after successful geophysical surveys of the region.
“We are delighted to have potentially secured exploration acreage in Zambia, expanding our significant exploration portfolio beyond Cameroon and Kenya,” said chief executive Kevin Hart.
“We are also pleased that Block 11B continues to provide very encouraging results and we look forward to the commencement of the seismic programme.”