Erin Energy Corporation\u00a0has announced it has obtained an eighteen-month extension of the Initial Exploration Period (IEP) of its offshore\u00a0Kenya\u00a0blocks, L27 and L28.<\/p>\n
The IEP on blocks L27 and L28 which expired on June 8th 2015\u00a0has been extended to\u00a0February 2017.<\/p>\n
The extension of the IEP of the Production Sharing Contracts for blocks L27 and L28 is effective as of\u00a0August 9, 2015.<\/p>\n
\u201cWe are delighted to receive this eighteen-month extension. This additional time to evaluate these blocks will allow us to acquire 3D seismic data and to look for suitable partners on the blocks,\u201d said Segun Omidele, Senior Vice President, Exploration and Production.<\/p>\n
The required work remaining includes the acquisition, processing, and interpretation of 3D seismic data on both blocks.\u00a0Erin Energy\u00a0formerly CAMAC Energy is the operator and has a 100% interest in both offshore blocks.<\/p>\n
Late last month the company announced the Kenyan Government had granted it approval to enter the First Additional Exploration Period (FAEP) on its onshore blocks, L1B and L16.<\/p>\n
Erin Energy\u00a0had completed the required work program for the Initial Exploration Period of the onshore blocks earlier this year where it announced it had exercised its right, in accordance with the provisions of the Production Sharing Contracts, to apply for the FAEP and move to the next phase of exploration.<\/p>\n
In Kenya the company holds various licenses and the single largest acreage by any single explorer. Erin was awarded 4 Production Sharing Contracts in the Lamu Basin of Kenya for a combined acreage of 36,913 km2.<\/p>\n","protected":false},"excerpt":{"rendered":"