By Business Reporter
Kenya announced the discovery of fresh oil in the under developed north and the find is expected to boost the economy.
The announcement was made on Wednesday following a British-listed company Tullow focused on Africa having said it had raised its estimate of resources there to over 600 million barrels after new discoveries at two onshore wells in northern Kenya.
“Exploration results to date… have proven that Tullow’s onshore acreage in northern Kenya has the potential to become a significant new hydrocarbon province,” Exploration Director Angus McCoss said in a statement.
“Tullow believes that the overall potential for the basin, which will be fully assessed over the next two years through a significant programme of exploration and appraisal wells, is in excess of one billion barrels of oil,” the company said.
The latest discoveries — two wells in Block 10BB, Amosing-1 and Ewoi-1 — mean Tullow has clocked up seven consecutive finds in northern Kenya.
The recent find has caused a lot of excitement although still faced with many challenges.
The Africa-focused company made its name when it struck huge oil finds in Ghana and Uganda.
Tollow also found oil in the Ngama -1, Twiga South-1, Etuko-1, Ekales-1 and Agete-1 wells.
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