'Kenyan oil deposits may cross 1 bn barrels'

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IANS | 20 Sep, 2014
Kenya's recoverable oil reserves in the country's tertiary rift basin are likely to exceed one billion barrels, the ministry of energy and petroleum said.

The four recently discovered oil wells that were drilled by Tullow Kenya in the Lokichar sub-basin have raised the country's recoverable oil reserves from 300 million barrels to 600 million, Xinhua quoted Cabinet Secretary for Energy and Petroleum David Chirchir as saying Friday.

"However, with further appraisal drilling which is currently on going, the recoverable reserves are likely to be in excess of billion barrels in the Tertiary Rift Basin alone," Chirchir said in a statement issued in Nairobi.

"These positive developments indicate that Kenya could become a significant oil producer," Chirchir said.

In readiness for the commercialisation of the oil, the ministry is fast tracking the construction of the Uganda-Kenya oil crude pipeline, the official said, noting that construction of a new Nairobi to Mombasa oil pipeline will be completed in the next 18 months.