Kenya has inched closer to joining the league of “big oil” African countries as exploration reports indicate existence of oil and natural gas reserves in the Upper eastern region and Coastal strip.
Last week, Kenya’ Energy Minister Kiraitu Murungi expressed optimism that increased oil and gas exploration activities in the country indicate prospects of striking the black gold.
According to Mr Murungi, Kenya’s search for oil has been stepped up in recent years, with indications that oil could be struck soon.
He said China National Offshore Oil Corporation (CNOOC), which will undertake the drilling in Upper Eastern province town of Isiolo, was mobilising the manpower and equipment for sinking the well. The drilling commences this month.
It is estimated that Kenya’s Coastal region has the potential of producing around 100 million barrels of crude oil and 600 billion cubic feet of natural gas.
The well to be drilled by the Chinese could produce an estimated 1.7 billion barrels of oil.
This, it is said, could turn around the economy of the country, which currently uses an estimated 80,000 barrels a day.
Kenya’s Coastal region has the potential of producing around 100 million barrels of crude oil and 600 billion cubic feet of natural gas annually.
The well in Isiolo is expected to be five kilometres deep and is estimated to cost the company $26 million.
This is the second major attempt at finding oil in recent years after an Australian company, Woodside Energy sank a Ksh5 billion into the three-kilometre deep well off the Lamu coast that bore no fruit.
“This will be the deepest well ever drilled in Kenya. With the discoveries in Sudan, Uganda and Tanzania, we believe it is just a matter of time before Kenya succeeds too. It is only a matter of time,” said Mr Murungi.
The minister was addressing a gas and oil management conference in Nairobi last week.
Source: www.theeastafrican.com.ke