Tullow to start Kenya oil production by 2020

Tullow Oil has announced it expects to produce oil for the first time in Kenya by 2020.

The announcement, made through its 2015 half-year report, puts to rest speculation that had earlier suggested Kenya would start producing oil by 2017.

In the report released on Wednesday (today), the multinational oil exploration company says a sanction decision for oil production is expected by the end of 2016, and the first production will happen “approximately three and a half years post project sanction”.

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Tanzania and Mozambique: Top Players in Oil and Gas Market

Africa’s energy industry will see a boom in the coming years with Mozambique and Tanzania set to emerge as new gas frontiers if they get the required investment, according to PriceWaterhouseCoopers (PwC) study.

 Mozambique has the potential to be the world’s third largest producer of LNG, after Qatar and Australia, but needs to secure between US$20bn and US$25bn dollars in foreign investment, the consultancy said.

 

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Canadian firm commences drilling in Kenya

Oil exploration in North East of Kenya is rapidly progressing, with the commencement of drilling at the Badada-1 well in Block 2B of the Mandera Basin. This comes at a time global oil prices have crashed below $50 per barrel.

 

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