Tullow concludes South Lokichar appraisal in plan to raise oil
4 months ago, 10 Jan 12:42
Tullow Oil has concluded the recent oil exploration and appraisal of drilling in the South Lokichar Basin as part of its plan to increase production of the hydrocarbon by the end of March this year. This comes after the Ministry of Energy said that it intended to resume small scale oil exports after having suspended the plan last June. The announcement also comes after the company raised Sh258 billion ($2.5 billion) to help fund its operations in Africa. Tullow had by June pumped and stored 60,000 barrels of oil, pending the firming up of the export plans. “In Kenya, the recent phase of exploration and appraisal drilling in the South Lokichar Basin has been concluded and the focus is now on the Early Oil Pilot Scheme (EOPS) and the overall development plan for the discovered resources,” said Tullow Oil in a trading update to the markets.
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