M a r k e t N e w s

Tullow Oil, Africa Oil receive 1 year extension in block 10BB, 13T

Posted on : Thursday, 13th November 2014

 The Kenyan government has approved extension of the exploration license in blocks 10BB and 13T by one year following delays in acquisition of 3D seismic.

Following the approval exploration periods for block 10BB and 13T will expire in July 2017 and September 2017, respectively.
This year the partners in both blocks have acquired a 704 square kilometer 3D seismic program over the discoveries and prospects along the Basin Bounding Fault Play in the discovered basin in Northern Kenya.
Ongoing is a further 274 square kilometers to include Etom and the surrounding structures which was initiated following the positive results from the Etom-1 well. This expanded survey is expected to complete during the fourth quarter.
“The ongoing drilling in the discovered basin in Northern Kenya has been quite helpful in understanding the distribution of the best reservoir facies and will no doubt be enhanced by the ongoing 3D seismic survey which is to be completed by the end of 2014,” says Africa Oil CEO Keith Hill.
Other completed acquisitions include a 674 kilometer 2D seismic program in Block 12A which was completed in the first quarter as well as in Block 10BBwhere a 750 kilometer North Kerio Basin 2D seismic program was completed in the first quarter.
In 2015 the explorer partners plan to drill six new basin opening wells by mid-2016. Epir-1 (Block 10BB) will test the North Kerio Basin and Engomo-1 (Block 10BA) will test the North Turkana Basin; both wells will spud shortly.
In addition, wells are being planned at the North Samaki prospect (Block 10BA) in the North Turkana Basin, the Tausi prospect (Block 13T) in the North Lokichar Basin, the Kerio Valley Basin (Block 12A) and the Turkewll Basin (Block 13T).
“We are looking forward to the results of three new basin opening wells to be drilled in late 2014 and early 2015 which have the potential to unlock significant value in terms of new prospects and resources. Our goal is to open up at least one new basin and to move a significant number of barrels from prospective to contingent resources by the end of 2014 and into 2015 as we move the field development program forward,” concluded Hill.
Tullow Oil is the operator in both blocks 10BB and 13T with 50 percent withholding interest while Africa oil holds the remaining 50 percent interest in both blocks.

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