Kenya’s early oil pilot scheme suspended due to poor roads

A worker walks at a Tullow Oil explorational drilling site in Lokichar, Turkana County, Kenya, February 8, 2018. REUTERS/Baz Ratner




Kenya’s Tullow Oil has halted its early oil pilot scheme citing poor road network in Turkana due to floods and is set to resume operations after roads are repaired. In its trading and statement and operational update it noted that ” Trucking remains on hold until all roads are repaired to a safe standard. Work continues with Joint Venture Partners and the Government of Kenya to progress the development project”

Meanwhile ,Tullow Oil expects to report a $1.5 billion (1.15 billion pounds)write down after lowering its long-term oil price assumptions by $10 to $65 a barrel, an announced reduction in reserves in Ghana and disappointing exploration wells, it said on Wednesday.




After repeated delays for its East African projects, Tullow also noted that there was no breakthrough in Uganda, where it is looking to reduce its stake.

Tullow, a partner of French oil major Total in several projects, has forecast 2020 output to shrink to a maximum of 80,000 bpd and fall again to around 70,000 bpd in 2021-2023. It is still looking for a replacement for its former Chief Paul McDade, who stepped down last month. Tullow’s full-year results are due on March 12 and will include updates on the review of its assets and management structure.

Source: CGTN