As prospects for natural resources by international companies intensifies, Australian based firm Pancontinental Oil & Gas has announced plans to start drilling for oil and gas off the Coast of Kenya next week.
The firm said that First Australian Resources (FAR), who share the block L6 with-has already started receiving tenders for seismic surveys expected to begin next month. FAR which is also an Australian firm owns 60 per cent of the rights to explore for oil and gas on the L6 block both onshore and offshore.
FAR which acquired the rights from Gippsland Offshore Petroleum Limited is already seeking tenders for seismic surveys to be done over a 700km area on the southern offshore part of the license area-Kifaru and Tembo.The firm is also exploring the offshore portion of the license area after finding encouraging hydrocarbon generation and migration studies.
A report by the Pancontinental Oil & Gas indicates that a deep central depressed block of land bordered by parallel faults in the Kifaru and Tembo areas is considered to be oil and gas “source kitchen” and potential hydrocarbon trapping prospects had already been identified immediately adjacent to this area.
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