Petroleum Africa
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Friday, June 27, 2014
As oil, and now gas discoveries, onshore Kenya continue to be made the country’s parliament is being pushed to get the new energy law approved by October. According to Kenya the approval of the revised petroleum law will pave the way for the opening up of more blocks to explorers. Kenya said in January it would delay a licensing round for new exploration blocks until the law was ready.
The law, updating a 1986 code, would list new guidelines on natural gas exploitation not adequately covered now, allow for the creation of a sovereign wealth fund to save some revenue and specify how local communities will benefit.
Cabinet Secretary for Energy and Petroleum Davis Chirchir told a conference his ministry had set itself a timeline to have the law in parliament by August or September, with the aim of having legislators approve it by October. “The Ministry of Energy and Petroleum is at an advanced stage of review of the policy, legal and regulatory framework, to realize this constitutional requirement within that timeframe,” he said.
It was originally expected that the revised law would be sent to parliament in July or August but the timeline has been changed to ensure relevant parties had as much input as possible.
Chirchir said the country had 15 new blocks it was ready to open, and rising interest from explorers had sparked a debate about whether they could be offered under the old law.
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