#cheptuket

Africa Oil Has Spent Kshs.2.25 Billion Exploration, Development Expenses in Kenya in 2016

The Company incurred (Kshs2.25 billion) $22.5 million  of intangible exploration expenditures in Kenya for the six months ended June 30, 2016 according to the latest half year results by the company.

Drilling and completion expenditures primarily relate to the Cheptuket-1 exploration well in Block 12A and costs associated with demobilizing the PR Marriott 46 Rig and associated services cost 1.04…

Tullow Oil Slashes East Africa Exploration Budget Focuses on Pre-Development Stage

Tullow Oil has slashed its exploration and appraisal budget by 50 percent compared to 2015 to just $100 million as the company allocated $150 million to pre-development expenditure.

The reduction is an overall cut in the group’s capital expenditure associated with operating activities which has reduced from $1.7 billion in 2015 to $1.1 billion in 2016.

The reduction is also as a result of the…

Tullow Oil, Partners plan up to four basin openers in Northern Kenya next year

Block 10BB and 13T operator Tullow Oil together with JV partner Maersk Oil and Africa Oil will drill up to four new basin openers in the South Lokichar and the Turkana Lake Basin’ in 2016 according to a presentation by the latter to investors.

Among prospects on the pipeline according to the Africa Oil document include Tulya, Thilli, Linga or Lukwa in South Kerio Block 10BB the and the North…