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Oil discovered In Kenya For First Time
NAIROBI, Kenya – Kenya’s president announced Monday that oil has been discovered in his East African nation for the first time, and a foreign oil firm said the find is similar to the light, waxy crude previously discovered in neighboring Uganda.
President Mwai Kibaki cautioned that commercial viability of the oil find in the northwest Turkana region is still uncertain, but he welcomed the news. The discovery was made over the weekend.
“This is the first time Kenya has made such a discovery and it is very good news for our country,” Kibaki said. “It is however the beginning of a long journey to make our country an oil producer, which typically takes in excess of three years.”
Tullow Oil — which is carrying out oil exploration in the region — said that 20 meters (about 65 feet) of net oil pay was discovered at a site called Ngamia-1 in Kenya’s Turkana County.
Tullow’s exploration director, Angus McCoss, called the discovery an “excellent start” to Tullow’s exploration campaign in the rift basins of Kenya and Ethiopia.
“To make a good oil discovery in our first well is beyond our expectations and bodes well for the material program ahead of us,” McCoss said in a statement, adding that the firm is working with Kenya’s government and plans on further seismic and drilling activities
Read more: http://www.foxnews.com/world/2012/03/26/…z1qFA5YVLb
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