By Kenya Engineer
Hot News!
Following Chinese President Hu Jintao’s visit to Kenya in early 2006, the Kenya Government gave the state owned China National Overseas Corporation (CNOC) exclusive rights over six blocks spanning 115,343 square kilometres under a Production Sharing Contract agreement.
CNOC has recently returned four blocks. The blocks are labelled L4, 1, 10A and L3. CNOC has retained blocks 9 and L2. The four blocks were handed back to the Government, Energy Secretary, Patrick Nyoike. At the time of the original handover, blocks 9 and 10A were highly coveted by Cespa of Spain and Sweden’s Lundin International.
Mr Nyoike said the four blocks would be allocated to other companies as many exploration firms are interested in Kenya as virgin frontier. He said the Ministry of Energy had received many applications from firms that want to take advantage of incentives offered to investors and Kenya has stepped up the search for commercial quantities of oil. In March this year, South Korea’s SK Corporation and Taiwan’s CPC Corporation were keen to take up stakes in oil exploration blocks in Kenya.
|
