Tuesday, September 11, 2012

Kenya Strikes Gas in Mbawa-1, Malindi

British firm Tullow Oil PLC and Australia's Pancontinental Oil & Gas have announced that they have encountered natural gas in the Mbawa-1 exploration well located in the licensed L8 offshore area, Malindi.
“While we have not finished operations in Mbawa 1, this gas discovery is very promising and it is the first ever substantive hydrocarbon discovery offshore Kenya,” Pancontinental CEO Barry Rushworth said in a statement.
The Mbawa-1 exploration well has been drilled to a depth of 2,553 metres and has encountered approximately 52m of net gas pay in porous cretaceous sandstones. The well will now be drilled to a total depth of 3,275m targeting further exploration.
Tullow and Pancontinental hold a 15 percent stake each in the license consortium with drilling operator Apache Corp holding a 50 percent interest and Origin Energy the remaining 20 percent.
The venture has also attracted several multinational oil exploration companies that are expected to start bidding for eight new offshore oil and gas exploration sites in the country in the coming days. 

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