{"id":7936,"date":"2020-01-27T11:42:41","date_gmt":"2020-01-27T11:42:41","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=7936"},"modified":"2020-01-27T11:42:41","modified_gmt":"2020-01-27T11:42:41","slug":"are-tullow-oil-total-bailing-out-of-kenyas-oil-project","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/are-tullow-oil-total-bailing-out-of-kenyas-oil-project\/","title":{"rendered":"Are Tullow Oil & Total Bailing Out of Kenya\u2019s Oil Project?"},"content":{"rendered":"

According to reports emanating from France last week Tullow Oil the operator of blocks \u00a0<\/strong>Blocks 10 BA, 10 BB and 13T in the South Lokichar Basin the company together with its JV partner Total seeking for a partial or total equity change in their acreage sending mixed messages in the Kenyan nascent oil and gas industry. The reports further indicate that the company was seeking to offload this equity by Q2 2020 throwing in the wind the much anticipated final investment decision (FID) by the end of 2020.<\/p>\n

It is understood the two partners have hired French bank Natixis to officiate the transaction of blocks with the Irish explorer having offered to sell 100 percent of its shares to a willing buyer unlike Total\u2019s 50 percent share sale. This is unlike the earlier expected to 20% of its 50% stake in the blocks with losses in Guyana and Ghana with Tullow having hinted that it would focus on the investment plans for each of the Group\u2019s major assets in its second phase review having already restructured its executive management team.<\/p>\n

The Kenyan Government has however downplayed the announcement saying it was only aware of the earlier intended farm-out and not the total exit.<\/p>\n

\u201cThe Kenyan government is aware of Tullow\u2019s plan, which is not expected to delay investment in production or the proposed pipeline,\u201d Petroleum Principal Secretary Andrew Kamau<\/p>\n

Tullow and Total continue to be major players in the East African Upstream Sector namely Uganda where they have discovered contingent resources are estimated to be around 1.7 billion barrels of oil while in Kenya, Tullow estimates that the South Lokichar basin contains a recoverable resource range of 240 \u2013 560 \u2013 1,230 mmbo (1C\u20132C\u20133C).<\/p>\n

In 2018 Tullow exited Block 12A after an unsuccessful Cheptuket well<\/a> in the Kerio Valley leaving Delonex Energy as the operator.<\/p>\n

Africa Oil is the other JV partner in the three blocks.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to reports emanating from France last week Tullow Oil the operator of blocks \u00a0Blocks 10 BA, 10 BB and 13T in the South Lokichar Basin the company together with … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":6501,"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":[258,259,266,997,3379,1252,7305,2377,2378,2533,2571],"class_list":["post-7936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-block-10ba","tag-block-10bb","tag-block-13t","tag-ghana","tag-guyana","tag-kenya","tag-natixis","tag-south-lokichar","tag-south-lokichar-basin","tag-total","tag-tullow-oil","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/IMG-20171012-WA0083.jpg?fit=1280%2C853&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-240","jetpack-related-posts":[{"id":4864,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-receives-3-year-license-extension-in-kenyas-blocks-10bb-13t\/","url_meta":{"origin":7936,"position":0},"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. This announcement comes as the company expects to\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\/11\/Block-10BB-13T.png?fit=361%2C351&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1780,"url":"https:\/\/www.oilnewskenya.com\/index.php\/resource-estimates-in-kenyas-south-lokichar-basin-surpass-1-billion-barrels-of-oil-in-new-adjustment\/","url_meta":{"origin":7936,"position":1},"title":"Resource estimates in \u202a\u200eKenya\u202c\u2019s South Lokichar basin surpass 1 billion barrels of oil in new adjustment","author":"Samuel Kamau Mbote","date":"September 16, 2014","format":false,"excerpt":"Africa Oil Corp says that a new independent assessment of the Company's Contingent Resources in the South Lokichar Basin located in Blocks 10BB and 13T in Kenya has been completed by Gaffney, Cline & Associates increasing the total 2C (best) gross contingent resources by 67% to 616 million barrels of\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"2c gross estimates","src":"https:\/\/i0.wp.com\/oilnewskenya.com\/wp-content\/uploads\/2014\/09\/2c-gross-estimates.png?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/oilnewskenya.com\/wp-content\/uploads\/2014\/09\/2c-gross-estimates.png?resize=350%2C200 1x, https:\/\/i0.wp.com\/oilnewskenya.com\/wp-content\/uploads\/2014\/09\/2c-gross-estimates.png?resize=525%2C300 1.5x"},"classes":[]},{"id":4714,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-jv-partners-to-drill-more-basin-openers-appraisal-wells-in-kenya-in-late-2016\/","url_meta":{"origin":7936,"position":2},"title":"Tullow Oil, JV Partners To Drill More Basin Openers, Appraisal Wells in Kenya in Late 2016","author":"","date":"May 25, 2016","format":false,"excerpt":"Africa Oil has reiterated that the South Lokichar basin could see 2-4 Potential basin-openers in late 2016 and beyond as well as 4-8 Appraisal and exploration drilling targets raising hopes of renewed activity in Kenya\u2019s Blocks 10BB and 13T. The basin openers first reported by OilNews Kenya in December 2015\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\/Lokichar-Basin.png?fit=453%2C588&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3856,"url":"https:\/\/www.oilnewskenya.com\/index.php\/bharat-petroleum-eyes-tullow-oils-kenya-acreage\/","url_meta":{"origin":7936,"position":3},"title":"Bharat Petroleum eyes Tullow Oil\u2019s Kenya Acreage","author":"","date":"September 28, 2015","format":false,"excerpt":"India\u2019s Bharat Petroleum Corporation (BPCL) is rumoured to be in talks with Tullow oil to acquire 10 percent stake in Blocks 10BB and 13T where the London explorer has discovered over 600 million barrels. 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