Tuesday, August 14, 2012

Apache to start drilling at Kenya’s Lamu Basin

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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