Norwegian oil firm Statoil ASA has joined over 24 firms
pursuing the Kenyan oil, according to reports by Morgan Stanley.
The investment bank said that Kenya was in talks that may
lead to Statoil seizing the unlicensed block L26 in Kenya’s deep offshore.
With a total revenue of Ksh 10 trillion ($119 billion), the
company operates in 6 African states; Egypt, Tanzania, Ghana, Algeria, Libya
and Angola.
For more
on Statoil’s oil search in Kenya: Business Daily
Second major
discovery in Tanzania
Last month, Statoil and partner ExxonMobil found 3 trillion
cubic feet (Tcf) gas in their Lavani well 2,400m under the sea, and added 1Tcf
of gas to the Zafarani discovery.
East Africa is now the world’s fastest growing gas hubs with
the U.S Geological Survey estimating that 253 trillion cubic feet might be
lying in Kenya, Tanzania, and Mozambique.
About Statoil
Statoil is an international energy firm with over 40 years
of experience from oil and gas exploration on the Norwegian continental shelf. The
firm is listed on the New York and Oslo stock exchange, and operates in 37
countries.
When will it be commercial viable?
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