{"id":11166,"date":"2021-11-18T09:34:47","date_gmt":"2021-11-18T09:34:47","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=11166"},"modified":"2021-11-18T09:59:41","modified_gmt":"2021-11-18T09:59:41","slug":"kenya-tullow-increases-expenditure-to-69m-in-2021","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-tullow-increases-expenditure-to-69m-in-2021\/","title":{"rendered":"KENYA: Tullow Increases Expenditure to $59M in 2021"},"content":{"rendered":"

Tullow Oil has said it has increased its capital expenditure by $5 million to take account of revised Kenya expenditure according to its latest trading update.<\/p>\n

In its earlier report the company had allocated a pre-development expenditure of c.$4 million and exploration and appraisal expenditure of c.$50 million.<\/p>\n

“Full year Group capital expenditure is expected to be c.$265 million (previously c.$260 million), adjusted to take account of revised Kenya expenditure,” read the report.<\/p>\n

The company has also said that it continues to seek seeking a strategic partner to help finance the project and constructive discussions continue with interested parties.<\/p>\n

Currently the KJV comprising of Tullow Oil, Africa Oil and Total Energies is collaborating with the Ministry of Petroleum & Mining to incorporate feedback on the submitted draft Field Development Plan (FDP) and plan to resubmit a final FDP by the end of 2021 in line with licence commitments.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Tullow Oil has said it has increased its capital expenditure by $5 million to take account of revised Kenya expenditure according to its latest trading update. In its earlier report … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7443,11],"tags":[70,259,266,3159,6792,9772,9029,2571],"class_list":["post-11166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-eastern-africa","category-top-news","tag-africa-oil","tag-block-10bb","tag-block-13t","tag-field-development-plan","tag-kjv","tag-ministry-of-petroleum-mining","tag-total-energies","tag-tullow-oil","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Tullow-Oil-Kenya.png?fit=358%2C377&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2U6","jetpack-related-posts":[{"id":6675,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-spend-170m-kenyas-pre-development-exploration-appraisal-activity-2018\/","url_meta":{"origin":11166,"position":0},"title":"Tullow Oil to spend $170M in Kenya\u2019s Pre-Development, Exploration & Appraisal Activity in 2018","author":"","date":"January 10, 2018","format":false,"excerpt":"Tullow Oil estimates to spend approximately $170 Million in Kenya\u2019s Pre-Development, Exploration & Appraisal Activity in 2018 a majority of which is set aside for Exploration and Appraisal at $90 million and pre-development expenditure of $80 million. The capital expenditure in 2018 is a drop from last year\u2019s set expenditure\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/Weatherford-Rig-at-Epir-watermark.jpg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/Weatherford-Rig-at-Epir-watermark.jpg?fit=1200%2C900&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/Weatherford-Rig-at-Epir-watermark.jpg?fit=1200%2C900&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/Weatherford-Rig-at-Epir-watermark.jpg?fit=1200%2C900&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/Weatherford-Rig-at-Epir-watermark.jpg?fit=1200%2C900&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":5546,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-budgets-225m-in-kenyas-pre-development-exploration-and-appraisal-expenditure-in-2017\/","url_meta":{"origin":11166,"position":1},"title":"Tullow Oil Budgets $225M in Kenya\u2019s Pre-development, Exploration and Appraisal Expenditure in 2017","author":"","date":"January 11, 2017","format":false,"excerpt":"Tullow Oil has announced that it will set aside $225M of the $500M Group\u2019s capital expenditure to Kenya\u2019s Pre-development, Exploration and Appraisal Expenditure this year. This expenditure is expected to be broken into $100M of pre-development expenditure and $125 million of Exploration and Appraisal spend. The new figures show a\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/12\/tullow-oil.png?fit=385%2C255&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2317,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-cuts-exploration-capital-expenditure-by-80-in-2015-following-oil-price-drop\/","url_meta":{"origin":11166,"position":2},"title":"Tullow Oil cuts exploration capital expenditure by 80% in 2015 following oil price drop","author":"Samuel Kamau Mbote","date":"January 15, 2015","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Tullow Oil has said it will be shrinking its 2015 exploration expenditure capital to just $200 million from $1 billion in 2014 as it takes steps to strengthen the business to adapt to current market conditions. The company that has exploration and production licenses in West and East\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4339,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-to-focus-on-seismic-surveys-in-2017-as-exploration-expenditure-drop\/","url_meta":{"origin":11166,"position":3},"title":"Tullow Oil To Focus on Seismic Surveys in 2017 As Exploration Expenditure Drop","author":"","date":"February 10, 2016","format":false,"excerpt":"Following the earlier announced cut in exploration costs by Tullow oil the explorer has said it will focus on seismic surveying, processing and interpretation, high-grading and progressing leads to drill worthy prospects as oil prices continue to remain at an all-time low. Tullow Oil which has set just $100 million\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/01\/Tullow-Oil.jpg?fit=699%2C466&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/01\/Tullow-Oil.jpg?fit=699%2C466&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/01\/Tullow-Oil.jpg?fit=699%2C466&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4864,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-receives-3-year-license-extension-in-kenyas-blocks-10bb-13t\/","url_meta":{"origin":11166,"position":4},"title":"Tullow Oil Receives 3 Year License Extension in Kenya\u2019s Blocks 10BB, 13T","author":"","date":"July 27, 2016","format":false,"excerpt":"Tullow has announced it has reached an agreement with the Government of Kenya to extend the exploration period for Blocks 10BB and 13T in South Lokichar to 18 September 2020 with the earlier extension set to expire in July and September 2017. 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