Tullow Oil’s license for oil exploration in blocks 10BB and 13 in the South Lokichar basin scheme has been extended until 2021.
In a statement, the British oil and gas exploration company said the license extension will allow its joint venture partners to re-assess Project Oil Kenya.
The partners include Total, and Africa Oil. They will work closely with the government on land and water agreements to gain the approval of the environmental and social impact assessments and finalising the commercial framework for the project.
“I would like to thank the Government of Kenya for granting this extension which the joint venture partners will use to fully re-assess the development concept for this important project,” said Tullow Oil Plc chief executive, Rahul Dhir.
“On Kenya development, we are confident, particularly in light of the licence extension discussion, allows us the time to complete the redesign work. We are continuing to work with the Government of Kenya is seeking the much-needed fiscal package, as per the agreed Heads of Terms, to deliver an investable project and an FDP by end 2021,” added Mr Dhir.
The Amosing, Ngamia and Twiga fields in the South Lokichar basin are estimated to contain up to 560 million barrels of oil resources.
