Kenya’s Block 12A operator Tullow Oil has announced it has agreed to farm-down 25% of its 65% operated working interest in Block 12A to Delonex for a carry.
The block which expects to see its first well spud in 2016 has seen a lot of activity in the past fortnight following the sale of assets by Marathon Oil to an undisclosed company and the entry of Maersk Oil following a farm-out by joint venture partner Africa Oil.
Block 12A which lies south of Block 10BB which has witnessed a number of discoveries over the past three years lies in the Kerio basin where a similar there exist a similar structural setting to the successful Ngamia and Amosing discoveries.
Delonex Energy whose management team is led by former CEO of Cairn India Rahul Dhir has been on an expansion drive after landing its first license in Ethiopia in 2014 covering Blocks 18, 19 and 21 in the Abred-Ferfer area.
The company has also recently been awarded a second operating license in Mozambique during the fifth competitive bidding round in Area P5-A onshore Palmeria.
The farm-down agreement in Block 12A is however subject to Kenya government consent.