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Kenya Joint Venture Halts Early Oil Pilot Scheme

The early oil pilot scheme (EOPS) has suspended for two months due to severe damage to roads in the northern western part of Kenya caused by adverse weather in the fourth quarter of 2019. According to the Kenya Joint Venture partner Tullow Oil trucking remains on hold until all roads are repaired to a safe standard.

Prior to the halt the KJV has been transporting 2000 barrels of oil by road from Lokichar to Mombasa a day and increase from the earlier 600 bopd with the reservoirs, wells and associated facilities have been performing well.

The EOPS commenced in June 2019 amid calls by President Uhuru Kenyatta for Kenya to effectively manage oil and other natural resources to avoid the negative results that have confronted many other nations following new discoveries.

Tullow Oil adds that work continues with Joint Venture Partners and the Government of Kenya to progress the development project.

Dorothy Thompson, Executive Chair, Tullow Oil, commented: “The fundamentals of our business remain intact: recent reserves audits demonstrate that we have a solid underlying reserves and resources base in West and East Africa, our producing assets continue to generate good cash flow and we retain a high-quality exploration portfolio. The Board and senior management are confident of the long-term potential of the portfolio and see meaningful opportunities to improve operational performance, reduce our cost base, deliver sustainable free cash flow and reduce our debt.’

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