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Mr Andrew Kamau, the Principal Secretary in the State Department of Petroleum, Ministry Of Energy and Petroleum in Kenya shows a sample of Tullow Oil Kenyan crude after a press briefing on the progress of project oil drilling.It will take the country’s oil fields six months to fill up only one tanker ship Pic Photo Courtesy
Big dollar oil remains elusive for Kenya
Tullow Oil, the company leading oil exploration and drilling in Kenya, says construction of a pipeline by 2022 would kick off commercial production that will see up to 80,000 barrels pumped out per day. “Kenya’s recoverable reserves are estimated at 750 million barrels of crude and is considered commercially viable,” Tullow Managing Director Martin Mbogo observed .
But at a production rate of 2,000 barrels per day, estimates show that will take more than six months for Tullow Oil to produce enough crude oil from the fields of Turkana to fill up one oil tanker ship with a capacity of 400,000 barrels.
The first consignment of 600 barrels of crude oil is valued at Ksh4.5 million going by the average market price with the shipment expected to bring closer to reality the dream of Kenya joining the exclusive club of oil producers.
The Ministry of Petroleum and Mining said it is targeting production and stockpiling of at least 400,000 barrels of oil before commencing exporting. Petroleum Principal Secretary Andrew Kamau said such a quantity, although modest in volume, was still ideal, considering it was the country’s first oil export consignment.
