US explorer Apache Oil Corp has confirmed that it will start
drilling a well in Kenya’s block L8 (Mbawa Prospect) in the Indian Ocean.
Preliminary tests on the geological structure and upper
formation of the Mbawa oil farm by Apache have tested positive for oil, with
Barry Rusworth, CEO of Pancontinental Oil and Gas confirming that spudding is
imminent.
Located in the Lamu Basin, Mbawa Prospect is expected to be
drilled to its total depth of 3250 metres in water depth of 864 metres, taking
about 60 days to complete.
This will be the second most watched exploration in the
country after British firm Tullow’s discovery in the Ngamia-1 well, Northern
Kenya.
Apache Kenya operates block L8, with a 50 percent stake and
an original holding of 20 percent while both Tullow Kenya and Pancontinental
Oil & Gas hold 15 percent interest each.
The prospect, which has been termed as highly risk with
about 15 percent chance of success, is estimated to yield 4.9 billion barrels
of crude oil.
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