Tullow has now increased its oil discoveries in the South Lokichar Basin to 600 million barrels/FILE
As a result of these latest developments, Tullow has now increased its oil discoveries in the South Lokichar Basin to 600 million barrels.
In a statement on Wednesday, Tullow said the overall potential for the basin, which will be fully assessed over the next two years, is in excess of one billion barrels of oil.
“Exploration results to date from the first basin, amongst a chain of basins, have proven that Tullow’s onshore acreage in northern Kenya has the potential to become a significant new hydrocarbon province,” Tullow Exploration Manager, Angus McCoss said.
Prior to the latest discoveries Tullow had already found oil the Ngamia-1, Twiga South-1, Etuko-1 and Ekales-1 and Agete-1 wells, meaning that it has now clocked up seven consecutive finds in northern Kenya.
Following the new developments, the company has announced plans to develop a new export pipeline which should be complete by the end of 2016.
There have already been a number of positive announcements from the Governments of Uganda and Kenya regarding joint initiatives for a crude oil pipeline to the Indian Ocean which will enable the two countries to commence exports as soon as the infrastructure is in place.
Tullow’s Chief Operating Officer Paul McDade said he was optimistic that the oil will be ready for commercial use by then even as testing of the deposits, continues.
“The results to date are extremely positive for achieving a commercial development from the discoveries made in this basin. We will now be working with the National and County governments with the aim of progressing both the upstream development and the associated export pipeline to project sanction in the period 2015/2016,” McDade said.
The UK oil explorer, which is working hand in hand with Canadian firm, Africa Oil, has plans for more than 20 wells in northern Kenya over the next two years.
Tullow operates both the Amosing-1 and Ewoi-1 wells with a 50percent interest and Africa Oil has a 50 percent non-operated interest.
