Tullow investing in Kenya-based operations
By Anine Kilian, Contributing Editor
Africa focused oil and gas exploration company Tullow Oil expects to increase the amount of oil it transfers from Turkana to Mombasa, Kenya, to 2,000 barrels per day (bpd) by April.
The increase is part of Tullow’s Sh7 billion ($70 million) investment into its Kenyan operations, as the company ramps up preparations for commercial production, starting in 2022.
The company will spend the supplementary capital on developing wells in Turkana County, where it discovered an estimated 1.2 billion barrels of oil reserves.
“The group’s 2019 capital expenditure is expected to total approximately $570 million, comprising Kenya pre-development expenditure of circa $70 million, ”Tullow said in a trading statement on Wednesday.
Tullow further stated that it made substantial progress in Kenya in 2018 and is targeting first oil in 2022,” the company said.