Audio By Carbonatix
Oil has been discovered in Kenya after exploratory drilling by Anglo-Irish firm Tullow Oil, President Mwai Kibaki has said.
The discovery was made in the country's north-western Turkana region.
Mr Kibaki said it was "the first time Kenya has made such a discovery" and called it a "major breakthrough".
Kenya is a regional business and tourist hub with the largest economy in East Africa, although its relative wealth is not based on mineral riches.
The Kenyan president said Tullow would drill more wells to establish the commercial viability of the oil.
"It is... the beginning of a long journey to make our country an oil producer, which typically takes in excess of three years. We shall be giving the nation more information as the oil exploration process continues," he said.
Tullow Oil, which also struck oil in neighbouring Uganda, said the Kenyan find had exceeded their expectations.
"This is an excellent start to our major exploration campaign in the East African rift basins of Kenya and Ethiopia," said Angus McCoss, the company's exploration director.
He added: "To make a good oil discovery in our first well is beyond our expectations and bodes well for the material programme ahead of us."
Tullow has found oil in, or off the coast of, a number of African countries, including Ghana and Sierra Leone.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
KNUST boosts petroleum engineering output with largest MSc cohort
32 minutes -
NIB returns to profitability with over GH₵343M Profit After Tax – 2025 financial report
44 minutes -
Government to borrow GH¢15.231bn via T-bills, bonds between March and June 2026
1 hour -
UN resolution just the beginning – Mahama on adoption of slave trade declaration
1 hour -
UN adoption of resolution declaring transatlantic slave trade gravest crime historic – Mahama
2 hours -
“This is a proud moment for Ghana, Africa” – Mahama after UN slave trade resolution
2 hours -
New Town building collapse: Two dead, 14 rescued so far as mission intensifies
2 hours -
Prolonged Middle East conflict poses significant risk to economy – BoG
2 hours -
Kafui Dey suggests seat fillers to fix late TGMA start
3 hours -
World Bank, GCEA provide FIDIC contract management training in Accra
3 hours -
T-bills auction: Government records 20.1% undersubscription; interest rates continue to surge
3 hours -
Scientists from Ghana, Brazil and UK gather in Kumasi to tackle biodiversity crisis with technology
3 hours -
ECG announces power outages in Amasaman and Western Region for maintenance and cable fault repairs
3 hours -
Rescue efforts for trapped worshipers intensify in Accra New Town building collapse
4 hours -
49 Years On: Shirley Graham Du Bois remembered as a force beyond W.E.B. Du Bois’ legacy
4 hours
