Africa Oil and its Joint Venture partners have received extensions to their 10BB/13T blocks exploration licenses in Kenya to the end of 2021. The extensions succeed the approval of the work programme and budget for 2021 by the Ministry of Mines and Petroleum.
The extensions are to allow the Joint Venture partners to re-assess Project Oil Kenya and design an economic project at low oil prices whilst preserving the phased development concept. The Joint Venture partners are to work closely with the Kenyan Government on land and water agreements, graining approval of the Environmental and Social Impact Assessments and finalising the commercial framework for the project.
The completion of the project will allow for the submission of Field Development Plans to the Government of Kenya.
The President of Africa Oil, Keith Hill said, “I would like to express my appreciation for the collaboration that we have witnessed over the last several months, both with the Government of Kenya and the new leadership team at Tullow, which has allowed us to design a roadmap to move the project towards a technical and commercially viable Field Development Plan.”