Africa Oil Corp has announced that the company and its joint venture partners have been extended to their 10BB/13T exploration block licences in Kenya by the end of 2021.
This follows the approval by the Ministry of Mines and Petroleum of the work programme and budget for next year.
The licence extensions will allow the joint venture partners to re-assess Project Oil Kenya and to design an economic project at low oil prices while maintaining a phased development concept.
In parallel, in the coming months, the joint venture partners will work closely with the Government of Kenya on land and water agreements, obtain approval for environmental and social impact assessments and finalise the commercial framework for the project. Successful completion of this work will make it possible to submit field development plans to the Government of Kenya.
Keith Hill, President and CEO of Africa Oil, said, “I would like to express my appreciation for the collaboration we have witnessed over the last few months, both with the Government of Kenya and with the new leadership team at Tullow, which has allowed us to draw up a road map to move the project forward to a technical and commercial level.
