Last Updated 13 years ago by Kenya Engineer
Eight new oil blocks have been mapped and will be up for auction ‘within weeks’ .This comes at a time when the country drafted new petroleum exploration terms for new blocks. The blocks have a minimum proposed production sharing contract (PSC) terms for new exploration blocks.
Among the newly mapped blocks are 10BB and 13T which are both in the tertiary Rift while four others are in Lamu basin. Block L5 produced three new ones while block 1 was surrendered.
The exploration exercise has attracted more than 24 foreign players most of whom have began work on their respective sites.
Under the PSC’s,the exploration company must cede 25 per cent of their licensed acreage should they fail to do work on blocks after two years-for onshore block-and three years for offshore ones.
Read also:Kenya set to auction five oil, gas blocks as new rules take effect
-
Product on sale
AWEBook Volume 2Original price was: KShs 3,500.00.KShs 3,000.00Current price is: KShs 3,000.00.
