{"id":1502,"date":"2014-07-25T09:40:13","date_gmt":"2014-07-25T06:40:13","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=1502"},"modified":"2015-09-04T09:47:50","modified_gmt":"2015-09-04T09:47:50","slug":"world-bank-board-approves-50m-to-strengthen-kenyas-capacity-in-oil-and-gas-industry","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/world-bank-board-approves-50m-to-strengthen-kenyas-capacity-in-oil-and-gas-industry\/","title":{"rendered":"World Bank board approves $50m to strengthen Kenya’s capacity in oil and gas industry"},"content":{"rendered":"

[twitter-follow screen_name=’oilnewskenya’]<\/p>\n

The World Bank\u2019s Board of Executive Directors has\u00a0approved US$50 million for the Government of Kenya to strengthen its capacity to manage the oil and gas sector and the distribution of its revenues to create sustainable growth across all areas of the country\u2019s economy.<\/p>\n

With the recent discovery of oil, the International Development Association (IDA)* credit for the Kenya Petroleum Technical Assistance Project (KEPTAP) will focus on development measures to generate more private investment in the country\u2019s oil and gas industry, boost more efficient production, manage the impacts, allocate higher government oil and gas revenues for development priorities, and increase collaboration between the these extractives sectors and the domestic economy.<\/p>\n

\u201cThe Government of Kenya acknowledges that the development of a successful petroleum sector is never about petroleum alone, but also about managing its impacts for sustainable development”,\u201d said Diarietou Gaye, the World Bank\u2019s Country Director for Kenya. \u201cThe World Bank supports the government\u2019s efforts to streamline the petroleum sector to increase efficiency of decision-making related to policy formation, planning, investments, and private sector participation,\u201d<\/p>\n

Successful implementation of the project will pave the way for economic growth and enhanced well-being for the people of Kenya, contributing to poverty reduction and shared prosperity. Transparency and good governance in oil contracts and revenue will be ensured through stronger collaboration between the national and county governments hosting the new petroleum resources and also with civil society organizations, private sector and local communities in these areas.<\/p>\n

In order to help stimulate economic growth in Kenya, the project will promote petroleum activities to contribute to fiscal and foreign exchange revenues. It will also support entrepreneurial activities by improving the investment climate for the private sector and enhancing the oil and gas legal and institutional framework.<\/a><\/p>\n

In addition the project will support the drafting of key policy and planning documents as well as capacity building among existing government institutions and clarification of their roles and responsibilities. There is significant emphasis on training so government staff is well equipped to deliver the expected outcomes. The project will also increase vocational training capacity for the oil and gas sector of Kenya therefore increasing the availability of trained staff to the private sector.<\/p>\n

\u201cThe project supports effective government management of the oil and gas industry through capacity building, technical assistance, training programs, and the development of a legal and institutional framework,\u201d said Alexander Huurdeman, the World Bank Task Team Leader for the<\/p>\n

project. \u201cWe are excited for its implementation and the potential to create sustainable impacts for Kenya, including the development of a petroleum industry, improved transport infrastructure, expanded power supply, job creation, and positive economic benefits from strategic investment of the revenues generated.<\/p>\n

[twitter-follow screen_name=’oilnewskenya’]<\/p>\n","protected":false},"excerpt":{"rendered":"

[twitter-follow screen_name=’oilnewskenya’] The World Bank\u2019s Board of Executive Directors has\u00a0approved US$50 million for the Government of Kenya to strengthen its capacity to manage the oil and gas sector and the … Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":1503,"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":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[599,1107,1159,1252,1273,1292,1844,2018,2745],"class_list":["post-1502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-diarietou-gaye","tag-ida","tag-international-development-association","tag-kenya","tag-kenya-petroleum-technical-assistance-project","tag-keptap","tag-oil-and-gas-industry","tag-petroleum-sector","tag-world-bank","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/world-bank.jpg?fit=273%2C185&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-oe","jetpack-related-posts":[{"id":4849,"url":"https:\/\/www.oilnewskenya.com\/index.php\/5-4m-disbursed-through-kenya-petroleum-technical-assistance-project-report\/","url_meta":{"origin":1502,"position":0},"title":"$5.4M Disbursed Through Kenya Petroleum Technical Assistance Project – Report","author":"","date":"July 21, 2016","format":false,"excerpt":"The Kenya Petroleum Technical Assistance Project has disbursed $5.4M so far or 9.44% as of June 2016 according to the latest Implementation Status & Results Report by the World Bank which is funding the project. The World Bank in its report says that although the current disbursement levels remain low\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\/07\/world-bank.jpg.png?fit=579%2C394&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/07\/world-bank.jpg.png?fit=579%2C394&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/07\/world-bank.jpg.png?fit=579%2C394&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":1484,"url":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-awaits-world-bank-board-approval-of-kshs-4-billion-for-multi-agency-training\/","url_meta":{"origin":1502,"position":1},"title":"Kenya awaits World Bank board approval of Kshs.4 billion for multi-agency training","author":"Samuel Kamau Mbote","date":"July 22, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Kenya is awaiting the approval of $50 million dispatchment as part of the Kenya Petroleum Technical Assistance Project (KEPTAP) that targets to train government agencies including the energy ministry, treasury, National oil Corporation, Kenya Pipeline, Energy Regulatory Commission, State law office among others. The decision that is expected\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\/04\/al-doura_oil_refinery_iraq.jpg?fit=1200%2C802&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/04\/al-doura_oil_refinery_iraq.jpg?fit=1200%2C802&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/04\/al-doura_oil_refinery_iraq.jpg?fit=1200%2C802&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/04\/al-doura_oil_refinery_iraq.jpg?fit=1200%2C802&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/04\/al-doura_oil_refinery_iraq.jpg?fit=1200%2C802&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":6619,"url":"https:\/\/www.oilnewskenya.com\/index.php\/world-bank-halts-finance-upstream-oil-gas\/","url_meta":{"origin":1502,"position":2},"title":"World Bank Halts Finance For Upstream Oil and Gas","author":"","date":"December 14, 2017","format":false,"excerpt":"The World Bank Group has announced that it will no longer finance upstream oil and gas, after 2019 as part of its continuation of its own operations and to support countries meet their Paris goals. 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Two more wells drilled in the period stretching to 2010. None of them was a discovery. Basically 1992 to 2005 was a dormant period that saw zero wells drilled. 2012: Ngamia 1\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\/04\/human-rights.jpg?fit=668%2C444&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/04\/human-rights.jpg?fit=668%2C444&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/04\/human-rights.jpg?fit=668%2C444&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":6637,"url":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-seeks-expert-south-lokichar-blocks-hydrocarbon-audit\/","url_meta":{"origin":1502,"position":5},"title":"Kenya Seeks for Expert in South Lokichar blocks Hydrocarbon Audit","author":"","date":"December 20, 2017","format":false,"excerpt":"The ministry of energy and petroleum (MoEP) through the Kenya Petroleum Technical Assistance Project (KEPTAP) has requested for an expression of interest from firms wishing to undertake a hydrocarbon reserves audit and to develop competent person\u2019s report for the oil assets in Block 10bb and 13t in North Western Kenya.\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\/05\/Kenya-Discoveries-Block-10BB-Block-13T.png?fit=413%2C506&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=1502"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1502\/revisions"}],"predecessor-version":[{"id":3417,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1502\/revisions\/3417"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1503"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=1502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=1502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=1502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}