Tullow discovers hydrocarbons in Kenya
Tullow Oil has discovered gas at an exploration well in the L8 Licence area, the first hydrocarbon discovery offshore Kenya.
Tullow Oil has discovered gas at an exploration well in the L8 Licence area, the first hydrocarbon discovery offshore Kenya.
In a very brief statement on Monday morning, the company said that the Mbawa-1 exploration well was drilled to a depth of 2,553 metres and encountered around 52 metres of net gas pay in porous Cretaceous sandstones.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Angus McCoss, Tullow's Exploration Director, commented: "A gas discovery on prognosis in the shallowest objective at Mbawa-1 is an encouraging start to our East African Transform Margin exploration campaign. This is the first hydrocarbon discovery offshore Kenya.
"The on-going drilling remains on course to test for any deeper oil potential within this gas prone region".
Tullow holds just a 15% in the Block L8 Licence, while the operator, Apache, has a 50% interest, Origin Energy owns 20% and Pancontinental holds 15%.
-
HMRC stamp duty crackdown sees probes of property deals jump 88% – what to watch out forFrom bogus stamp duty refund claims to misleading the taxman about who owns a property, HMRC is increasing its scrutiny of stamp duty land tax reporting. Here’s how.
-
The UK areas which saw biggest jump in asking prices in 2025 – is yours on the list?We look at the UK areas where asking prices rose the most last year.
