Tullow Oil to restart exploration at South Lokichar in Kenya
Irish exploration firm sees potential of more than a billion barrels of recoverable oil
Tullow Oil chief executive Aidan Heavey. Photograph: Nick Bradshaw
Irish based oil and gas exploration company Tullow Oil will restart exploration and appraisal drilling at Kenya’s prolific South Lokichar field next month where it saw an upside potential of more than a billion barrels of recoverable oil, a senior official said on Tuesday.
“A recent 3-D survey shows additional upside potential,” Tim O’Hanlon, vice-president for Tullow Oil’s Africa business, told an oil and gas conference in Cape Town.
Tullow Oil, which has its main production assets in Ghana, also has exploration acreage in Mauritania, Namibia and Zambia.
O’Hanlon said that in Uganda, where it had 1.7 billion barrels of oil to develop, Tullow Oil was targeting an export pipeline capable of taking 200-230,000 barrels per day to Tanga port in Tanzania.
He said front-end engineering and design of the pipeline will start next year and a final investment decision was expected in 2018. – (Reuters)