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
2 April 2025
The often-hidden yet powerful hand maintains supply chain linkages and global flows amid disruptions
2 April 2025
At some point it is likely that $70/bl will be quietly accepted as the producer-consumer sweet spot for a US administration having to balance both sides of the ledger
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
