Lamu, Kenya | June 30, 2014, First ever oil discovery off...

Lamu, Kenya | June 30, 2014,
First ever oil discovery off Kenya's coast, says Pancontinental Oil and Gas
http://www.seychellesnewsagency.com...enya's coast, says Pancontinental Oil and Gas


Indian Ocean islands eye potential finds
The other western Indian Ocean nations of the Comoros, Madagascar, Mauritius, Reunion and Seychelles are also keen to exploit their hydrocarbon’s potential.
In Madagascar the world’s fourth largest island, intense exploration is currently on-going with more than 15 oil and gas companies involved in exploration activities. Comoros on the other hand has already demarcated 40 oil blocks with several offshore blocks being awarded to Kenyan, Comoros and Mauritius’ firms.
The Seychelles and Mauritius are also currently engaged in the setting up of an authority which will jointly licence and oversee petroleum exploration in the Joint Management Area that the two countries own in the Mascarene Plateau. This is aimed at forestalling future maritime disputes between the two nations.
In 2008 the two countries lodged a joint submission for the extended continental shelf with the UN Secretary General which was granted in March 2011.
In March 2012 Seychelles President James Michel and Mauritius Prime Minister Navin Ramgoolam signed the treaties for the joint management of the continental shelf measuring slightly 396,000 square kilometres off their respective coasts. According to energy analysts the region is expected to become an energy hub in the next five years.