As firms pump in millions of dollars into the exploration business, the buzz on both the Kampala and Nairobi grapevines is that Kenya could announce an oil find by the end of 2011. While this is not the first time there has been speculation to this effect, oil exploration in the country has intensified over the past two weeks. Two weeks ago, French oil multinational Total said it had acquired five offshore oil exploration blocks in the Lamu basin, joining a list of other giant firms that are eyeing openings in Kenya’s oil exploration. Total’s strategy is to strengthen its oil exploration and production presence in East Africa. It has started exploration and development of reserves in Uganda’s Lake Albert region and is active in Tanzania. read on: http://www.theeastafrican.co.ke/business/Kenya+could+announce+oil+find+by+the+end+of+2011/-/2560/1246682/-/3rg6u0z/-/
No comments:
Post a Comment