{"id":6675,"date":"2018-01-10T08:09:28","date_gmt":"2018-01-10T08:09:28","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=6675"},"modified":"2018-01-25T06:49:34","modified_gmt":"2018-01-25T06:49:34","slug":"tullow-oil-spend-170m-kenyas-pre-development-exploration-appraisal-activity-2018","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-spend-170m-kenyas-pre-development-exploration-appraisal-activity-2018\/","title":{"rendered":"Tullow Oil to spend $170M in Kenya\u2019s Pre-Development, Exploration & Appraisal Activity in 2018"},"content":{"rendered":"

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.<\/p>\n

The capital expenditure in 2018 is a drop from last year\u2019s set expenditure of $225 million<\/a> where\u00a0$100M was set for pre-development expenditure and $125 million of Exploration and Appraisal spend. This is despite Tullow Oil having increased the overall capital spend from $500 million to $570 million including $110 million of forecast Uganda expenditure which will be repaid from deferred consideration post the completion of the Uganda farm-down<\/a>, which is expected in the first half of the year.<\/p>\n

At completion of the Uganda farm-down, Tullow is also due to receive $100 million cash consideration along with re-imbursement of 2017 estimated capex of $60 million. A further $50 million cash consideration is due to be received when FID<\/a> is achieved.<\/p>\n

Tullow says its field operations in Kenya in 2018 will mostly involve the Early Oil Pilot Scheme<\/a> (EOPS) and the overall development plan for the discovered resources following the conclusion<\/a> of the 2017 exploration and appraisal drilling campaign. Work is already under way on the EOPS, with initial injectivity testing commencing on Ngamia-11 and oil production and water injection facilities being constructed in the field ready to commence production\/injection in the first quarter of 2018. Oil produced will initially be stored<\/a> until all necessary consents and approvals are granted and work is completed for the transfer of crude oil to Mombasa by road.<\/p>\n

Tullow Oil Trading Statement and Operational Update\u00a0Jan 2018\u00a0<\/a><\/p>\n

On the development plan the company reports significant progress with Tullow Oil having re-engaged with representatives of the Government of Kenya on the overall approach and timelines for progressing the development. The Environmental and Social Impact Assessment (ESIA) for the overall field development according to the Irish explorer is on track to commence later in the first quarter of 2018. The assessment of discovered resources and plans for development of the South Lokichar basin will be provided during the Full Year Results on 7 February 2018.<\/p>\n

Meanwhile Tullow Oil expects to report estimated revenues of$1.7 billion and gross profit of $0.8 billion for 2017.<\/p>\n

Read this and extra information of the expected upstream activity in Kenya in 2018 from our 2018 Kenya Upstream Sector Outlook<\/a>. Also available are Tanzania and Uganda versions. Contact: sales@oilnewskenya.com +254724684368<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

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 … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":2510,"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":[6136,6658,171,4566,5733,837,871,1252,6168,4216,2571,2603],"class_list":["post-6675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-6136","tag-6658","tag-appraisal","tag-early-oil-pilot-scheme","tag-expenditure","tag-exploration","tag-farm-down","tag-kenya","tag-ngamia-11","tag-pre-development","tag-tullow-oil","tag-uganda","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/Weatherford-Rig-at-Epir-watermark.jpg?fit=1280%2C960&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1JF","jetpack-related-posts":[{"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":6675,"position":0},"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":4242,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-slashes-east-africa-exploration-budget-focuses-on-pre-development-stage\/","url_meta":{"origin":6675,"position":1},"title":"Tullow Oil Slashes East Africa Exploration Budget Focuses on Pre-Development Stage","author":"","date":"January 13, 2016","format":false,"excerpt":"Tullow Oil has slashed its exploration and appraisal budget by 50 percent compared to 2015 to just $100 million as the company allocated $150 million to pre-development expenditure. The reduction is an overall cut in the group\u2019s capital expenditure associated with operating activities which has reduced from $1.7 billion in\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":5763,"url":"https:\/\/www.oilnewskenya.com\/index.php\/exclusive-tullow-oil-to-drill-an-additional-four-wells-in-kenya\/","url_meta":{"origin":6675,"position":2},"title":"Exclusive: Tullow Oil To Drill An Additional Four Wells In Kenya","author":"","date":"March 14, 2017","format":false,"excerpt":"Tullow Oil will be drilling an additional four wells with two of them confirmed and the rest in contingent status according to a source with information on the matter. The operator had earlier said it would drill four wells in 2017 in the South Lokichar basin including \u00a0Erut and Etete\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\/KE-1316-Etuko-1-Marriott-PR46-Rig-2429-3.jpg?fit=512%2C768&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11166,"url":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-tullow-increases-expenditure-to-69m-in-2021\/","url_meta":{"origin":6675,"position":3},"title":"KENYA: Tullow Increases Expenditure to $59M in 2021","author":"","date":"November 18, 2021","format":false,"excerpt":"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. 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