Africa Oil secures license extension for Kenyan blocks

Africa Oil, a Canadian oil and gas company, has secured license extension from the Kenyan government for Blocks 10BB and 13T.

As per the terms of the extension, the joint venture partners, which includes Tullow Oil, hold the right to extend the second exploration period for the 10BB and 13T licence blocks until 31 December 2020, with a further extension until 31 Dec 2021 which will be subject to an agreed work program and budgets.

Africa Oil said that it plans to use the extended time frame to closely work with its joint venture partners on filing an updated field development plan (FDP) by the end of next year.

Keith Hill – Africa Oil CEO said: “We would like to thank the Government of Kenya for granting us this extension which will allow the partnership sufficient time to overcome challenges in the current low oil price and pandemic conditions.  We strongly believe in the value of the Kenya development project and will be spending the next year on optimizing the project and removing all remaining obstacles to allow it to move forward.

“We see this project as a strong complement to our Nigeria production assets and our exploration portfolio successes.”