M a r k e t N e w s

GDC to provide drilling rig and team for oil exploration in Kenya

Posted on : Tuesday, 13th September 2016

 Reported last week from Kenya, the country’s Geothermal Development Company (GDC) has entered into an agreement with National Oil Corporation of Kenya. Under the agreement, both companies agreed to jointly offer drilling services to speed up oil and gas exploration in Kenya.

 
According to GDC Managing Director Johnson Ole Nchoe, the partnership will see the two State agencies jointly undertake drilling activities basing on their individual and collective technical expertise.
 
“As GDC we are happy to enter into this agreement with National Oil and this will present a unique opportunity for GDC ongoing efforts to optimise its assets in revenue generation,” said Mr Nchoe in a press statement Tuesday.
 
The acting National Oil of Kenya (Nock) Chief Executive Officer Ms MaryJane Mwangi in the same press statement noted that there are opportunities in oil and gas drilling in Kenya.
 
“The future of gas and oil exploration and production in our country and the region is very promising. The recent discoveries of oil and gas in Kenya and Uganda have made the region attractive for companies that offers drilling services and this is the opportunity that National Oil and GDC partnership seeks to exploit,” said Ms Mwangi.
 
According to the agreement, GDC will offer Nock drilling equipment and other specialised drilling services.
 
GDC, which is engaged in the development and exploitation of geothermal resources, will provide their partners with one deep drilling rig and personnel.
 
The two State corporations will also partner in training, sharing of equipment and facilities, joint tendering for consultancy and technical services.

Source : www.thinkgeoenergy.com
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