Britain’s Tullow says makes new oil find in Kenya

Britain’s Tullow Oil said on Wednesday it had made an oil discovery in Kenya, which could mean opening up a second oil basin for development in the country south of finds already made.

The East African nation and neighbouring Uganda have both made oil finds that have yet to start commercial production, part of a string of energy discoveries along the east coast of Africa.

“The first well in the Kerio Valley Basin, Cheptuket-1, has encountered good oil shows across a gross interval of over 700 metres,” Tullow said in a statement about the new find.

“We believe this encouraging initial result has the potential to open up a second prolific basin in Kenya,” it said, although it added that the pace of follow-up activity was “set to be modest”.READ MORE

SOURCE:http://af.reuters.com