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Kenya creates 17 new oil exploration blocks - media

Published 2016-05-14, 04:42 a/m
© Reuters. Kenya creates 17 new oil exploration blocks - media
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NAIROBI, May 14 (Reuters) - Kenya has created an extra 17
new oil exploration blocks, bringing its total to 63 and aims to
auction them in a licensing round in 2017, Kenyan newspapers
quoted Ministry of Energy and Petroleum saying on Saturday.
British explorer Tullow Oil TLW.L and partner Africa Oil
AOI.TO first struck oil in Lokichar in northwest Kenya in
2012. The recoverable reserves are an estimated 750 million
barrels of crude.
Since the discovery, interest from explorers seeking blocks
in Kenya increased.
Privately-owned Standard Newspaper quoted the Energy and
Petroleum ministry as saying it aimed to hold an auction for the
new blocks in 2017.
"We constituted all the blocks and the country now has 63
blocks .... We now have 17 blocks to license," the Standard
quoted Martin Heya, the ministry's commissioner for Petroleum
Energy, as saying.
Africa Oil and Tullow were 50-50 partners in blocks 10 BB
and 13T where Kenya's the discoveries were made. Africa Oil has
since sold a 25 percent stake in those blocks to A.P.
Moller-Maersk MAERSKb.CO .
Africa Oil and its partners aim to announce a final
investment decision for production in early 2017.
Early this month, Kenya started a search for companies to
design a crude oil export pipeline costing some $2.1 billion and
which it expects to be should be completed by 2021.

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