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Oil Exploration Shifts from Kenya to Kajiado

Kenya has moved oil exploration project to Kajiado where probability of striking oil or gas is high.

National Oil Corporation of Kenya (NOCK) intends to drill its oil block in the coming two years, speculating to follow in the footsteps of UK’s Tullow and its partners who have since February 2012 encountered oil resource estimated at nearly a billion barrels in Blocks 10BB and 13T in Turkana South.

Since April 2018 an investment of Sh2.5 billion was made at the coastal Lamu’s Pate Island where other oil drilling has been undertaken as exploration activity.

Last week, the explorer, Zarara Oil and Gas, mentioned that they did not confront any commercial quality gas in the blocks L4 and L13.

Nock, which has conventionally focused on comparatively cheaper downstream oil business, is looking out for a partner to inject cash in drilling in exchange for an undisclosed stake in Block 14T.

Well drilling consumes alot of cash. To add to it, it's a  very risky business as there is a probability of finding oil and gas or finding nothing. The farm out procedure is carried out to share risks and investments globally, as explained by NOCK Chief Executive Officer, MaryJane Mwangi.

Nock says it has received positive results from the interpretation and integration of its 2D seismic data in the block where it has been undertaking geological and geoscientific studies with its partner, Japan Oil and Gas Metals Company.

Both the firms have been sharing operational costs for exploration activities at the block, stretching to the Tanzanian border which covers 7,000 square kilometres.

The triumphant partner who should show delight by April 2 will play a huge role in “identifying more drillable prospects culminating in the drilling of an exploration well within the next two years”.

Source : newzmart
Posted On: 3/28/2019 12:00:00 AM

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