Tullow Oil has struck its fifth oil deposit in Kenya at the Agete-1 exploration well in Block 13T in Lokichar Basin- Northern part of the east African Nation, it announced on Friday.
The sampled moveable oil is estimated at 100 meters of net oil pay in good quality sandstone reservoirs, capitalfm reported.
“The Agete-1 wildcat well is part of a major exploration campaign and has made the fifth consecutive oil discovery in the first of a chain of multiple rift basins across Tullow’s acreage in the region,” said a statement from the British oil exploration firm.
The firm said the discovery has increased the chances that several block its prospecting in the north could also have oil deposits. It has already struck oil in Twiga South, Ekales, Etuko and Ngamia oil and has declared that oil in the country could be commercially viable.
It plans to start pumping by 2018 earlier than Uganda’s discovery that was discovered much earlier but operations have been slowed down by court cases and tedious government interference.
Tullow operates the Agete-1 well with a 50 percent interest and Africa Oil (50 percent) has a non-operated interest.
Africa Oil and Tullow are also having discussions with the Kenya government, which will include consideration of a ‘start-up phase’ oil production with potential to deliver significant production rates, potentially with oil export via road or rail in advance of a full-scale pipeline development.