Kenya hit 368 million barrel of oil find

Ngamia 1 oil exploration site in South Lokichar basin,in Northern Kenya Photo/Joseph Kariuki

Ngamia 1 oil exploration site in South Lokichar basin,in Northern Kenya Photo/Joseph Kariuki

Kenya’s oil find is now commercially viable after studies by Canadian firm Africa Oil that runs wells with Tullow in Lokichar basin confirmed the county has oil potential of up to 1,213 million barrels of oil.

“Gaffney Cline’s independent assessment confirms a significant increase to contingent and risked prospective resources in the Tertiary rift basins in Kenya and Ethiopia,” Keith Hill, Africa Oil’s President and Chief Executive Officer, said on the find.

Based on the drilling and testing program over the past year Africa Oil has confirmed the South Lokichar Basin contains gross contingent resources of 368 million barrels of oil, an increase of 557%.

The study also found that the  gross risked prospective resources of 1,213 million barrels of oil are estimated for the South Lokichar Basin.

“This level of resource exceeds the threshold for development and development studies have commenced. We continue to aggressively explore with three seismic crews active and are ramping up drilling activity with plans to have a total of six rigs (four operated by Tullow Oil) operating in the fourth quarter of 2013,” said Hill.

“We  expect the next 18 months to be transformational as we drill-out the prolific South Lokichar Basin and open up a number of highly prospective basins on the Tertiary rift trend,” Said Hill.

The study commenced on  June 30, 2012. Some of the  Company’s exploration activities in Kenya  include:

  • Drilling and testing the Twiga South-1 well in Block 13T (Kenya) resulting in an additional oil discovery and demonstrating high quality Auwerwer sands containing light waxy sweet oil.
  • Production testing the Ngamia-1A discovery in Block 10BB (Kenya) which significantly increased the assessment of net oil pay encountered by the well;
  • Drilling the Etuko-1 well in Block 10BB (Kenya) resulting in an additional oil discovery.
  • Drilling the Paipai-1 well in Block 10A (Kenya) demonstrating a working petroleum system in the Anza Basin.

Kenya has already started plans to build a oil pipeline from the new port of Lamu to Lokichar,South Sudan and link with Uganda that is at the stage of oil production.

 

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Posted on September 4, 2013, in General News and tagged , , , , . Bookmark the permalink. 1 Comment.

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