{"id":5807,"date":"2017-03-24T09:21:24","date_gmt":"2017-03-24T09:21:24","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=5807"},"modified":"2017-03-24T09:21:24","modified_gmt":"2017-03-24T09:21:24","slug":"erin-energy-to-relinquish-kenyas-offshore-blocks-l27-l28","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/erin-energy-to-relinquish-kenyas-offshore-blocks-l27-l28\/","title":{"rendered":"Erin Energy to relinquish Kenya\u2019s offshore Blocks L27, L28"},"content":{"rendered":"

American explorer Erin Energy has said it will not seek an additional extension of its offshore L-27 and L-28 blocks due to the high costs and risks associated with frontier exploration in the current price and market environments.<\/p>\n

According to Erin Energy the decision to relinquish the two offshore blocks was in the company\u2019s long-term best interest.<\/p>\n

The company which is currently on an eighteen-month extension<\/a>\u00a0of the Initial Exploration Period (IEP) had earlier in February said it was running out of time on its quest to find a farm-in partner. Further the company had warned<\/a> it was unlikely to meet its requirements unless a farm-in partner came on board.<\/p>\n

The extension was also aimed at enabling the company evaluate these blocks, allow it to acquire 3D seismic data. The required work then it said would includes the acquisition, processing, and interpretation of 3D seismic data on both blocks.<\/p>\n

The Company adds it continues to evaluate the prospectivity of identified leads on its onshore blocks (Blocks L1B and L16) and is currently designing an additional, targeted 2-D seismic acquisition on the blocks.<\/p>\n

\u201cErin Energy\u00a0has stated that the most prospective of its\u00a0Kenya\u00a0assets are its onshore blocks and has focused the majority of its work on these blocks,\u201d Erin Energy said in a statement.<\/p>\n

Before the announced relinquishment the company held 4 licenses and the single largest acreage by any single explorer in the Lamu Basin for a combined acreage of 36,913 km2 all awarded in May 2012.<\/p>\n","protected":false},"excerpt":{"rendered":"

American explorer Erin Energy has said it will not seek an additional extension of its offshore L-27 and L-28 blocks due to the high costs and risks associated with frontier … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":4183,"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":[11],"tags":[321,383,3173,1252,1355,1357,4688,1363,1806],"class_list":["post-5807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-blocks","tag-camac","tag-erin-energy","tag-kenya","tag-l16","tag-l1b","tag-l27","tag-l28","tag-offshore","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/12\/Erin-Energy.png?fit=456%2C365&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1vF","jetpack-related-posts":[{"id":3797,"url":"https:\/\/www.oilnewskenya.com\/index.php\/erin-energy-obtains-18-month-extension-offshore-kenya-blocks-l27-l28\/","url_meta":{"origin":5807,"position":0},"title":"Erin Energy obtains 18-month extension in Kenya’s Blocks L27 and L28","author":"","date":"September 9, 2015","format":false,"excerpt":"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. The IEP on blocks L27 and L28 which expired on June 8th 2015\u00a0has been extended to\u00a0February 2017. The extension of the IEP of the Production Sharing Contracts for\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\/09\/camac.png?fit=626%2C489&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/camac.png?fit=626%2C489&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/camac.png?fit=626%2C489&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3224,"url":"https:\/\/www.oilnewskenya.com\/index.php\/erin-energy-seeks-term-extension-four-blocks-kenya\/","url_meta":{"origin":5807,"position":1},"title":"Erin Energy seeks term extension on four blocks in Kenya","author":"","date":"August 11, 2015","format":false,"excerpt":"Erin Energy formerly CAMAC Energy has said it has met with the Kenyan government and submitted the required applications to enter the\u00a0First Additional Exploration Period\u00a0(FAEP) of both onshore blocks L1B and L16 after licenses on both blocks expired on June 8th 2015 . The company is also awaiting the decision\u2026","rel":"","context":"In \"block 28\"","block_context":{"text":"block 28","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/block-28\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/camac.png?fit=626%2C489&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/camac.png?fit=626%2C489&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/camac.png?fit=626%2C489&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4182,"url":"https:\/\/www.oilnewskenya.com\/index.php\/3d-seismic-in-kenyas-offshore-blocks-l2728-unlikely-without-farm-out\/","url_meta":{"origin":5807,"position":2},"title":"3D seismic in Kenya\u2019s offshore Blocks L27&28 Unlikely without farm-out","author":"","date":"December 13, 2015","format":false,"excerpt":"Houston based offshore Block L27&28 operator Erin Energy has said it is unlikely to meet its requirements unless a farm-in partner comes on board. \u201c3D acquisition in L27 & L28 subject to completing a farm-out,\u201d Erin Energy told investors in its last presentation in early December. The blocks located offshore\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\/12\/Erin-Energy.png?fit=456%2C365&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5416,"url":"https:\/\/www.oilnewskenya.com\/index.php\/erin-energy-intensifies-efforts-to-find-farm-in-partner-for-kenya-offshore-blocks-l-27-l-28\/","url_meta":{"origin":5807,"position":3},"title":"Erin Energy Intensifies efforts to find farm-in partner for Kenya offshore Blocks L-27, L-28","author":"","date":"November 21, 2016","format":false,"excerpt":"American explorer has said it has intensified efforts to identify and farm in partners in order to share exploration costs and risks in the ultra-deep water offshore blocks, L-27 and L-28 set to expire in\u00a0February 2017. Erin Energy says a farm-in partner will help it focus on its most prospective\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\/12\/Erin-Energy.png?fit=456%2C365&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2848,"url":"https:\/\/www.oilnewskenya.com\/index.php\/camac-energy-rebrands-erin-energy-corporation\/","url_meta":{"origin":5807,"position":4},"title":"CAMAC Energy rebrands to Erin Energy Corporation","author":"","date":"April 24, 2015","format":false,"excerpt":"Sub-Sahara focused oil and gas exploration company CAMAC Energy has announced that it \u00a0has changed its name to\u00a0Erin Energy Corporation\u00a0and will trade under the new ticker symbol \u201cERN\u201d on both the NYSE MKT and the\u00a0Johannesburg Stock Exchange\u00a0. The company whose asset portfolio consists of nine licenses across four countries covering\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\/03\/camac-energy-logo.jpg?fit=530%2C370&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/camac-energy-logo.jpg?fit=530%2C370&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/camac-energy-logo.jpg?fit=530%2C370&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":766,"url":"https:\/\/www.oilnewskenya.com\/index.php\/camac-energy-to-start-exploration-in-kenya-onshore\/","url_meta":{"origin":5807,"position":5},"title":"Camac Energy to start exploration in Kenya’s onshore block L1B, L16","author":"Samuel Kamau Mbote","date":"March 22, 2014","format":false,"excerpt":"CAMAC Energy has announced that it will start its exploration onshore on block L1B or L16 in 2015 even as exploration continues in Blocks L27\/ L28 in the Lamu Basin an area estimated to contain up to 3.7 billion barrels of oil. Already an Environmental and Social Impact Assessment Study\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\/03\/camac-energy-logo.jpg?fit=530%2C370&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/camac-energy-logo.jpg?fit=530%2C370&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/camac-energy-logo.jpg?fit=530%2C370&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5807","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=5807"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5807\/revisions"}],"predecessor-version":[{"id":5808,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5807\/revisions\/5808"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/4183"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=5807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=5807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=5807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}