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 volume 13, issue #16 - Thursday, September 04, 2008

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Kenya extends oil exploration contracts

06-08-08 The government has extended the contract on oil exploration on blocks L8 and L9 off the Lamu Basin for the Joint Venture participants in oil exploration Origin Energy and Kenya Ltd. Origin Energy owns a 75 % stake in the oil exploration venture together with Pancontinental Oil and Gas.
The Second Additional Period now extends to 21 January 2009 for each block. The Second Additional Period requires the drilling of an exploration well in Block L8 and the acquisition of 3D seismic in Block L9 in the first year.

The Ministry of energy says Mbawa structure off the coast of Lamu archipelago remains an exploration prospect and will need to be drilled to establish the presence of hydrocarbons.
Origin is actively seeking other companies prepared to participate in the drilling of an exploration well on this prospect in Block L8 and in the acquisition of 3D seismic across a structural trend where Jurassic aged sediments provide a potential reservoir objective in Block L9.

Source: http://www.kbc.co.ke



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