Tullow discovered commercially viable oil in the Lokichar basin in 2012 and had aimed to start commercial production in 2020.
By
Charles Mwaniki
Business Reporter
Nation Media Group
Kenya’s Gulf Energy will pay Tullow Oil $9 million (Sh1.16 billion) for the British firm to give up rights to future royalties of $0.5 (Sh65) per barrel and repurchase of shares in the Turkana oil project.
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Kenya, through Gulf Energy, expects to start commercial production of the Turkana oil Block T6 and Block T7 by December 2026.
Residents now fear missing out on opportunities linked to the petroleum sector.
The TotalEnergies chief says oil production from Uganda's Tilenga field is on course to reach plateau by mid-2027.
Turkana residents want revenue-sharing and accountability structures in place before Gulf Energy begins oil production.
The government completed the sale in March, raising Sh106.3 billion after selling a 65 percent stake in KPC through an…
Leaders and residents from Lamu have called for transparency in the proposed Sh2.2 trillion oil refinery project saying so far…
