apache pulls out of offshore kenya, page-5

Apache are in the process of a worldwide asset sale and monetization, looking for a total of $4 billion, so they are getting out of many assets to do so.

It is annoying that just 3 months ago upstreamonline.com reported that Apache's exploration manager had stated a commitment to drill a follow up to Mbawa. Now we find that commitment was as solid as a Hollywood marriage.

It would be good if Tullow took it on, although they already have a 15% slice at the moment (and an option for an additional 5% from PCL's 15%). Tullow announced recently they are going full steam ahead with drilling their onshore Kenya blocks (which have been very successful), so it will be interesting to see if they are willing to take on a bigger slice offshore.

I do recall Tullow saying that they prefer to be the operator of blocks they are involved with, so I hope they take it on, if not then there would be others in line to do so if the reported strong interest in the Kenyan licensing rounds is an indication.

In around 3 months from now, BG & PCL will be drilling blocks L10a & L10b, so look forward to that and to seeing some drill plan announcements soon from BG Group.