AFRICANGLOBE – London listed multinational Tullow Oil which has been exploring oil in Kenya has announced the discovery of another oil well further raising the prospects of Kenya in joining the league of oil producers.
The company in a statement released last weeksaid the find is located at Etuko-1 well in the expansive Turkana County of northern Kenya.
This is the same County that hosts Ngamia and Twiga South, which have previously been found to hold oil that meets commercial viability standards.
According to the statement announcing the new find, Tullow expects a flow rate potential of 5,000 barrels a day based on Ngamia-1 and Twiga-South-1, and estimates there are 250 million barrels of oil in place. The company said this forecast could only increase given the indications in the other blocks currently being explored.
The company, which has been focusing most of its efforts on eastern Africa, has previously had a good run in Uganda and drilling plans are underway.
The recent discovery put East Africa in a pole position to start producing and exporting oil in what will be a major reprieve to a region that has seen the price of the commodity spiral to unimaginable levels.
Apart from exploration efforts in Africa, Tullow is already producing and selling oil from Ghana, a major income stream to finance the capital intensive exploration activities.