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Kenya plans $1 bln dual-listing of National Oil Corp by early 2019

Published 2017-11-29, 06:43 a/m
© Reuters.  Kenya plans $1 bln dual-listing of National Oil Corp by early 2019
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NAIROBI, Nov 29 (Reuters) - Kenya plans to raise $1 billion by listing its National Oil Corporation at home and on the London Stock Exchange by early 2019, to buy a share of two oil blocks held by Tullow and its partners, a senior government official said on Wednesday.

"We need to raise money for our back-in rights," Andrew Kamau, the principal secretary for petroleum at the Ministry of Energy, told Reuters.

The two blocks, 13T and 10BB, are in Turkana county in the far north of the country. They are owned by Tullow TLW.L , Africa Oil AOI.TO and A.P. Moeller Maersk MAERSKb.CO .

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