Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Tullow has now increased its oil discoveries in the South Lokichar Basin to 600 million barrels/FILE

Kenya

Tullow announces more Kenya oil finds

Tullow has now increased its oil discoveries in the South Lokichar Basin to 600 million barrels/FILE

Tullow has now increased its oil discoveries in the South Lokichar Basin to 600 million barrels/FILE

NAIROBI, Kenya, Jan 15 – Tullow Oil has announced two separate oil discoveries at Amosing-1 and Ewoi-1 exploration wells in Block 10BB in Turkana.

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.

Advertisement. Scroll to continue reading.

Tullow operates both the Amosing-1 and Ewoi-1 wells with a 50percent interest and Africa Oil has a 50 percent non-operated interest.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...