Petroleum Africa
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Tuesday, January 30, 2018
Total is looking to take its partnership with Tullow Oil in Uganda across the border into Kenya. According to the office of Kenya’s president, Uhuru Kenyatta, the French firm will buy shares in three Kenyan oil blocks from Maersk Oil & Gas.
Tullow and Africa Oil, as well as Maersk, are set to develop discovered resources on the blocks that Total is acquiring the stakes in. Full production is expected in early 2021 after completion of a $2.1-billion pipeline to transport the crude through the proposed port of Lamu.
Kenyatta’s office said Total had committed to the pipeline, prompting the government to agree to a proposal for the French oil major to buy “the issued and to-be-issued share capital of Maersk Oil Exploration International (Mogas Kenya) in respect of Blocks 10BA, 10BB and 13T.”
The statement followed a meeting between Kenyatta and MomarNguer, a member of Total’s executive committee and its head of marketing and services.
There were no details offered on the size or value of the transaction.
A spokeswoman for Total did say that the company would gain access to oil reserves in Kenya after it acquires the Maersk Oil assets.
“Total respects the commitments made by Maersk Oil. Kenyan oil will be shipped via a pipeline in Kenya with the agreement of the government,” she said.
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