Fresh Oil Discovered in Kenya

  • 0

kenya new oilur

Britain’s Tullow Oil has recently said that it has made an oil discovery in Kenya, which could mean opening up a second oil basin for development in the country.
The East African nation and neighbouring Uganda have both made oil finds that have yet to start commercial production, part of a string of energy discoveries along the east coast of Africa.
“The first well in the Kerio Valley Basin, Cheptuket-1, has encountered good oil shows across a gross interval of over 700 metres. We believe this encouraging initial result has the potential to open up a second prolific basin in Kenya,” the statement said, although it added that the pace of follow-up activity was “set to be modest”.
Low oil prices have prompted international oil firms to reduce spending on exploration and development. A Kenyan government official had earlier said an announcement would be made on Wednesday about a new oil discovery in Kenya, but had not given details.
Tullow is working with partners Africa Oil and A.P. Moller-Maersk to develop finds in the South Lokichar Basin in northwest Kenya, where recoverable reserves have been put at an estimated 600 million barrels.

Nigeria, Equatorial Guinea Agrees on Maritime Security
Prev Post Nigeria, Equatorial Guinea Agrees on Maritime Security
10 Ways to Become an Effective Manager
Next Post 10 Ways to Become an Effective Manager

Leave a Comment: