
Thursday, August 22, 2013
Kenya has placed its hopes on the discoveries made to date by Tullow Oil and Africa Oil onshore the country and is very optimistic on bringing these discoveries to market in a very timely manner.
Three separate discoveries in the Southern Lokichar Basin are currently estimated by Tullow to contain at least 300 million boe and the latest well, the Etuko-1, just added icing to the cake allowing for Tullow to deem its discoveries to date commercially viable.
While Tullow has been working in Uganda much longer and those reserves discovered deemed commercial years ago, Kenya’s neighbor still has no production. This is due to disagreements between the government, Tullow, and its partners in Uganda. Oil production from Uganda is not expected until 2018, while Kenya is hoping to get a jump on its neighbor and start producing in 2016. Hopefully Kenya can avoid the complications neighboring Uganda has seen in kick-starting its production.