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Kenya’s Crude Oil Recoverable Resources Up to 750 million barrels in New Assessment

Tullow Oil has said its initial assessment estimate Kenya crude oil recoverable resources have jumped 25 percent to 750 million barrels following the recently concluded exploration and appraisal drilling.

This is up from 600 million barrels earlier reported in an independent assessmentcompleted by Gaffney, Cline & Associates which increased the total 2C (best) gross contingent resources by 67% to…

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…