Anyone has seen this or is it an old article that I have missed?
[i]Australian firm Pancontinental said it would spend between $300 million and $400 million (Sh25.8 billion to Sh34.5 billion) over the next one and a half years in exploration activities in Kenya and Namibia.[/i]
Kenya,,,estimated to have upwards of 20 billion barrels.
The discovery of oil and gas deposits across the region has made the East Africa region more attractive to energy investors. [PHOTO: FILE/STANDARD]
By Macharia Kamau
Cheers T
A clearer picture of the oil resources in Kenya is expected in the course of this year.
This is as oil exploration and production intensify activities as well as test the already drilled wells.
Kenya is yet to determine the amount of oil reserve it has but all points to commercial viability. The Lokichar Basin where Africa Oil and its partner Tullow oil have acreage is estimated to have upwards of 20 billion barrels.
The various firms exploring are in a race to be the first to announce the actual deposits and proclaim commercial viability in their blocks.
Tullow expects to drill more than 10 wells this year as well as other prospecting firms.
Your are here » Home » Business News Anxiety as Kenya awaits commercial viability of oil find Updated Sunday, January 5th 2014 at 21:46 GMT +3 0 inShare. The discovery of oil and gas deposits across the region has made the East Africa region more attractive to energy investors. [PHOTO: FILE/STANDARD]
By Macharia Kamau
A clearer picture of the oil resources in Kenya is expected in the course of this year.
This is as oil exploration and production intensify activities as well as test the already drilled wells.
Kenya is yet to determine the amount of oil reserve it has but all points to commercial viability. The Lokichar Basin where Africa Oil and its partner Tullow oil have acreage is estimated to have upwards of 20 billion barrels.
The various firms exploring are in a race to be the first to announce the actual deposits and proclaim commercial viability in their blocks.
Tullow expects to drill more than 10 wells this year as well as other prospecting firms.
The firm last September said it expected to drill at least a well a month in its various exploration blocks over a year, beginning October last year.
Drilled wells
The firm has been successful in Kenya making discoveries in five consecutive wells since Ngamia 1 in March 2012. In addition to drilling, the firm will this year be testing its recently drilled wells to ascertain their potential.
“The exploration, appraisal and development studies in the proven South Lokichar Basin continue to be our main focus, but we are still confident we will unlock other productive basins on this trend,” said Keith Hill, chief executive Africa Oil, in its recent update progress in Kenya.
“This fully funded increased level of activity, with a minimum of six rigs working full time for the foreseeable future, should continue to deliver high potential upside value for shareholders this year and beyond.”
The firm started drilling Amosing-1 exploration well in Turkana late last year and is scheduled to be completed by end of this month. It will also undertake evaluation of the Paipai 1 well in Marsabit located seven kilometres southeast of the Ngamia discovery, which had over 200 metres of net pay and is a similar basin bounding fault trap in which has been referred to as the ‘string of pearls’ trend. The well is expected to be completed by the end of this month,” said Hill.
“A well test for Paipai-1 is being scheduled for 2014. Paipai-1 fully satisfied the remaining work obligations for the initial exploration period, which was extended to January 2014 to allow for evaluation of the well results.” It also plans to test the Etuko and Ekales wells and test results for both are expected early in the first quarter of 2014.
Taipan Resources Ltd – operating in Kenya as Lion Petroleum Corporation – plans to spend $29.5 million that will partly go to drilling a well in its Block 2B in North Eastern Kenya.
Maxwell Birley, chief executive Taipan Resources said the firm will drill an exploratory well in the block in the third quarter of this year to a depth of 3,000 metres.
“This includes the drilling and testing of a Pearl-1 prospect that is estimated to have gross prospective resources of 200 million barrels of oil. The remaining lead inventory on Block 2B in addition to Pearl-1 is capable of delivering in excess of 500 million barrels gross,” he said in a recent communication. Taipan is partnering with Premier Oil in the North Eastern Kenya venture.
Australian firm Pancontinental said it would spend between $300 million and $400 million (Sh25.8 billion to Sh34.5 billion) over the next one and a half years in exploration activities in Kenya and Namibia.
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