Breaking news: Oil discovered in Kenya
UK-based Tullow Oil today announced that it has found oil in Kenya.
“This is an excellent start to our major exploration campaign in the east Africa rift basins of Kenya and Ethiopia,” commented Tullow’s exploration director Angus McCoss. “To make a good oil discovery in our first well is beyond our expectations and bodes well for the material programme ahead of us. Tullow is working closely with the government and people of Kenya as a committed long-term partner to unlock the oil potential of the region. We look forward to further success as seismic and drilling activities continue to gather pace.”
“This is the first time Kenya has made such a discovery and it is very good news for our country. It is however the beginning of a long journey to make our country an oil producer, which typically takes in excess of three years. We shall be giving the nation more information as the oil exploration process continues,” said Kenyan president Mwai Kibaki according to a Daily Nation report.
Kenya has similar geological features to where crude oil was found in Uganda and where natural gas is being exploited in Tanzania. According to Tullow, the oil discovered in Kenya has similar properties to the light waxy crude found in Uganda.