Africa Oil doubled Kenya’s oil production prospects putting the approximate crude commercially viable at 600 million barrels.
The report released mid April puts Kenya on the short road-map to oil production, a program that Africa oil and its strategic partner Tullow Oil Plc are fervently working on to achieve before 2017.
Africa Oil discovered incredible results at Amosing-1 and Ewoi-1 exploration wells in Block 10BB, onshore putting East and Central Africa’s largest economy on oil export radar.
The Canadian oil and gas explorer Africa Oil reported that it found net oil pay of 160 to 200 meters exceeding pre-drill expectations Amosing-1 and Ewoi-1 wells.
The report further shows possible increase in oil finds in coming months as the company continues the exploration activities in Kenya’s Lokichar basin.
Intelligence Analysis on Oil Finds by Africa Oil
Kenya is one of the best frontiers for oil exploration in the African continent.
The prospects of more oil finds is very high as both technology and political conditions continue to favor exploration firms.
There are an estimated more than one billion barrels of crude in the Lokichar basin alone.
This means if other areas prospected yield results, Kenya could have a multi-billion barrel trove of crude.
With its developed economic structure, Kenya will export oil in less than a decade putting its economic picture in the global ranks.
Uganda and South Sudan oil production and exports success can be significantly improved by Kenya which is already in the early stages of constructing the pipeline linking the oil wells with the coast.
Africa oil may make very profits it the Kenyan oil finds go to production.