Tullow Oil announced plans to invest $10 million in its oil development projects in Kenya this year, representing only 2.7% of its total planned investment of $370 million across four African countries.
The company stated that it is proceeding cautiously in Kenya as it continues to search for a strategic partner and awaits government approval for its development plan.
Tullow continues to focus on the process to secure a strategic partner for the development project in Kenya. In parallel, Tullow and its JV Partners are working with the Energy and Petroleum Regulatory Commission Authority (Epra) and the Ministry of Energy and Petroleum to finalise the FDP (Field Development Plan).
Tullow Oil
Tullow Oil and its joint venture partners submitted the Field Development Plan (FDP) in December 2021 to the Ministry for approval, which, if granted, will allow the proposed Turkana Oil project to move forward.
The FDP includes information on the number of wells, the land needed for the project, the construction design, and the disposal facilities for petroleum waste.
After the Ministry approves the FDP, the Parliament will then need to ratify it.
The company reported earning nearly $4 million in revenues from cargo sales in Kenya’s Early Oil Pilot Scheme last year and plans to invest $30 million in exploration and appraisal activities in the future.
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