The Petroleum Upstream Regulatory Authority (PURA) participated as a guest in the budget speech session for the Ministry of Blue Economy and Fisheries for the financial year 2024/25.

The speech was delivered in the Zanzibar House of Representatives on 7^th of June, 2024 by the Minister of the Blue Economy and Fisheries, Hon. Shaaban Ali Othman.

In the speech, Hon. Shaaban disclosed that in the year 2024/25, the Ministry will implement twelve priorities including continuing with exploration of oil and gas.

"Mr. Chairman, in the year 2024/25, the Ministry will continue promoting the eight (8) blocks located offshore through various platforms and inviting potential investors" briefed Hon. Shaaban.

In addition to explaining the plans for 2024/25, the Minister explained the achievements realized in the year 2023/24.

Among the achievements attained in the oil and gas subsector include the launch of Zanzibar’s first licensing round and the payment of compensation to 3,575 citizens whose properties were affected during seismic data acquisition.

To implement the plan for 2024/25, the Hon. Minister asked the Zanzibar House of Representatives to approve the use of 66,012,766,000 shillings to cover both recurrent and development expenditures.

PURA, having signed a Memorandum of Understanding (MoU) with the Zanzibar Petroleum (Upstream) Regulatory Authority (ZPRA), was invited to participate in this crucial event.

PURA and ZPRA signed the MoU on 19 February 2022, to share experience in various areas including drafting of petroleum upstream regulations, Production Sharing Agreement (PSA) audit, and data management.