Camac Energy to invest US$35 million in Kenya oil and gas exploration

oil kenya-djmacpherson wikimediacommonsCamac Energy’s blocks covers a total area of about 37,000 sq km in Kenya. (Image source: djmacpherson/Wikimedia Commons)Camac Energy has announced that it will invest US$35mn for oil and gas prospects in four Kenyan offshore blocks

The US oil and gas firm’s blocks covers a total area of about 37,000 sq km in the country and two of them — L27 and L28 — are located more than 3,000 metres deep under water in the Lamu Basin of the Indian Ocean.

Kenya’s cabinet secretary said, “This is quite significant considering that undertaking oil and gas exploration operations, particularly in deep waters, is very capital intensive.”

Tullow Oil is also testing the commercial viability of a promising oil find it struck in the far north county of Turkana, located in northwest Kenya.

Commercial oil discoveries in Uganda and Kenya and gas finds offshore Tanzania and Mozambique have drawn explorers to east Africa, now seen as a potentially major new producing region, industry sources said.

 

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