A French firm Total SA committed to invest and build Lokichar-Lamu crude oil pipeline. This will boost Kenya’s effort to develop its own oil fields and subsequently realize the country’s ambition of joining the league of oil exporters.
The deal was reached during a meeting between President Uhuru Kenyatta and Total’s executive committee member and president for marketing and services Momar Nguer at State House, Nairobi.
Total-SA has been given green-light to acquire 100 percent of Maersk Oil and Gas assets in Kenya. This will give Total a 25 percent share in of Blocks 10BA, 10BB and 13T alongside Tullow Oil (operator) and Africa Oil which have 50 percent and 25 percent equity stake respectively.
The green light follows a commitment by the French explorer to the Lokichar to Lamu pipeline route as the only evacuation route for Kenya’s crude from the South Lokichar oilfields.
President Kenyatta welcomed Total’s commitment, saying it will fasten the development of the resources for the benefit of the Kenyan people.
President Kenyatta emphasized that Kenya is optimistic that the entry of Total into the Kenya Joint Venture saying will strengthen the financial resources and technical competence to the Joint Venture and this will go a long way in accelerating the development of the resources in these oil blocks.