Kenya enters the oil business
The East African country exports its first consignment of oil while Tullow prepares for 2020 FID
Tullow signed heads of terms with Kenya’s government in June, having agreed the key commercial principles for the development of discoveries in blocks 10BB and 13T in the South Lokichar Basin, near Lake Turkana. “We are looking to sanction the project in the second half of 2020,” says Mark MacFarlane, Tullow’s executive vice president for East Africa. “The contentious issues, if there were any contentious issues, have been agreed.” Kenya’s Turkana oil reserves, discovered in 2012, are estimated at 560mn bl. Tullow owns a 50pc stake in the project, while its partners, Canada’s Africa Oil Corp and Total, each hold 25pc. Combined, they have invested $2bn. Turkana is in Kenya’s remote, undeve
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
