Oil company Tullow makes new discovery in Kenya
Exploration firm Tullow Oil has announced the new discovery of oil in Kenya.
The find is the fourth consecutive wildcat discovery, through exploratory drilling, since 2012.
It was made at the Ekales-1 wildcat, located in Block 13T in Northern Kenya. Tullow operates the Ekales-1 well, with Africa Oil taking a 50pc interest.
Davy stockbrokers said that the well will now be tested to confirm productivity but reservoir volumes are expected to be over 50 million barrels gross recoverable.
The company also announced its Agete-1 well in block 13T had commenced drilling.
Angus McCoss, exploration director with Tullow Oil said: “This success at the Ekales-1 wildcat is further evidence of the exceptional oil potential of our East African Rift Basin acreage. Having opened the first basin with the Ngamia-1 well last year, we are now increasing the pace of exploration in Kenya aiming for 12 wells over the next 12 months.”