Kenya signs oil deal with Anadarko Petroleum

Kenya and Anadarko Petroleum Corp have signed an oil and gas exploration agreement for five offshore blocks in the east African nation’s Lamu Basin, a newspaper said on Saturday.

The Saturday Nation said that Anadarko and the government had signed a deal for blocks L5, L7, L11A, L11B and L12.

“Anadarko is set to start its work programme,” the paper quoted Hudson Andambi, senior superintending geologist at the Ministry of Energy, as saying.

While east Africa’s biggest economy has yet to strike oil or gas, the government is confident and a recent oil discovery in Uganda raised hopes Kenya might yield similar reserves.

Neighbouring Tanzania also has natural gas deposits, some of which are already being used to generate electricity and to power industries.

Among other countries where Anadarko is present on the continent are Mozambique, Sierra Leone, Algeria and Ghana.

Source: Reuters