Gulf Oil and Gas accountACCOUNT

Significant Increase in 2C Oil Resources in Kenya's South Lokichar Basin

Source: www.gulfoilandgas.com 5/10/2016, Location: Africa

Africa Oil Corp. (Africa Oil) is pleased to announce that an independent assessment of the Company's Contingent Resources in the South Lokichar Basin located in Blocks 10BB and 13T in Kenya has been completed by DeGolyer and MacNaughton Canada Limited (DMCL).

The estimated gross 2C unrisked resources in the South Lokichar Basin, Kenya have increased by 150 million barrels (or 24%) to 766 million barrels of oil (Development Pending: 754 million barrels and Development Unclarified: 12 million barrels).

Keith Hill, President and CEO, commented, "DMCL's independent assessment confirms a significant increase in Contingent Resources for the South Lokichar Basin in Northern Kenya. Based on the continuing drilling and testing program over the past year our best estimate is now that the Company's discoveries in the South Lokichar Basin contain gross unrisked Contingent Resources of 766 million barrels of oil (2C estimate) (Development Pending: 754 million barrels and Development Unclarified: 12 million barrels), an increase of 24% on previous estimates, and may contain as much as 1.63 billion barrels of gross oil Contingent Resources (3C estimate), an increase of 26%. The level of these resources gives us confidence that we will exceed the threshold required for development and we continue to push forward for development sanction during 2017."

For more information about related Opportunities and Key Players visit East Africa Projects

Reservoir Engineering & Recovery Methods News in Kenya >>

Ghana >>  3/24/2020 - Maersk Drilling has received a notification from Tullow Ghana Ltd. of early termination for convenience of the drilling contract for the drillship Mae...
Algeria >>  3/16/2020 - SONATRACH and CHEVRON proceeded, to the signing of a memorandum of understanding to initiate joint discussions on the opportunities concerning the exp...

Angola >>  3/10/2020 - TechnipFMC has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract from BP Angola for t...
Cameroon >>  3/4/2020 - Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to confirm the award of a contract to TechnipFMC plc ("Technip") ...

Egypt >>  3/3/2020 - Maersk Drilling has been awarded a one-well contract for the semi-submersible rig Maersk Discoverer offshore Egypt. The contract has an estimated dura...

Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

Related Articles: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 


Kenya Oil & Gas 1 >>  2 | 3 | 4 | 5 |

Oil & Gas Projects in Kenya >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.