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NAIROBI, Kenya – Kenya's president announced Monday that oil has been discovered in his East African nation for the first time, and a foreign oil firm said the find is similar to the light, waxy crude previously discovered in neighboring Uganda.
President Mwai Kibaki cautioned that commercial viability of the oil find in the northwest Turkana region is still uncertain, but he welcomed the news. The discovery was made over the weekend.
"This is the first time Kenya has made such a discovery and it is very good news for our country," Kibaki said. "It is however the beginning of a long journey to make our country an oil producer, which typically takes in excess of three years."
Tullow Oil -- which is carrying out oil exploration in the region -- said that 20 meters (about 65 feet) of net oil pay was discovered at a site called Ngamia-1 in Kenya's Turkana County....
Following a referendum and adoption of a new constitution in August 2010, Kenya is now divided into 47 counties that are semi-autonomous units of governance. These units are expected to be fully implemented by (August 2012) – in time for the first general election under the new constitution. The counties will be governed by elected governors and will operate independent of the central government in Nairobi.
Tullow Oil plc (LSE: TLW) is a global oil and gas exploration company headquartered in London, United Kingdom. It has interests in over 85 licences across 23 countries and in 2010 produced 58,100 barrels of oil equivalent per day.[2] Its largest activities are in Africa, where it has discovered new oil provinces in Ghana, Uganda and Kenya, produces oil and gas in six countries and has exploration projects in 13 countries.[3][4] As at 30 June 2010 it had total proven commercial reserves of 290.5 million barrels (46,190,000 m3) of oil equivalent.[5]
Its primary listing is on the London Stock Exchange and it is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £12.5 billion as of 23 December 2011, making it the 30th-largest company on the London Stock Exchange.[6] It has a secondary listing on the Irish Stock Exchange....
Major shareholders
Shareholder No. of shares % Issued Capital
Blackrock Inc 106,568,436 11.99%
Prudential PLC 63,386,247 7.01%
IFG International Trust Company Ltd 38,960,366 4.40%
Legal & General Group PLC 35,414,975 3.99%
Originally posted by LittleBlackEagle
Originally posted by EvanB
Cue weapons of mass destruction insinuations, al-Qaeda training camps, a mass military build up and the "liberation" of Kenya from 20000 ft
nah they're going the other route, Kony anyone?
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One and two sentence replies ("wisecracks") can kill good discussions Please be an example for our newer members and make every post matter.edit on 26-3-2012 by Byrd because: (no reason given)
Originally posted by EvanB
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One and two sentence replies ("wisecracks") can kill good discussions Please be an example for our newer members and make every post matter.edit on 26-3-2012 by Byrd because: (no reason given)
Originally posted by jazzguy
i bet the greedy warmongers are working overtime to Demonize kenyans as we speak LOL
This just in......kenyan terrorists try to blow up the american embassy, we must invade LOL
"Africa is definitely the land for the future. Total is looking for new exploration acreage. Its recent exploration track record is outstanding, and it has unveiled giant fields and new petroleum provinces," Mr Matesco said.
TULLOW Oil, the British multinational, has struck oil in northern Kenya, Mwai Kibaki, the country’s president, announced on Tuesday at an oil, gas and energy conference in Nairobi.
At the conference in the Kenyan capital, some of the world’s biggest oil companies discussed their exploration plans for East Africa, which has attracted significant interest from energy multinationals as well as national and independent oil and gas companies.
Energy expert Duncan Clarke said the discovery of oil in Kenya’s Turkana region was "fantastic" news for the country, where major oil companies had in the past drilled wells that turned out to be dry.
Ian Cloke, exploration manager for southern and East Africa at Tullow Oil, said the company was lucky to strike oil early in its campaign in Kenya and Ethiopia. He said the company’s exploration activities in the region would gather momentum in the next year.