French supermajor TotalEnergies and London-listed Africa Oil have decided to withdraw from an oil project in Kenya, leaving Tullow Oil the sole owner of the blocks and potentially further complicating Kenya’s oil dream. After the withdrawal of TotalEnergies and Africa Oil, Tullow’s working interest in these blocks will increase from 50% to 100%. Tullow Oil and its minority partners have sought to develop the South Lokichar project for years, but Africa Oil and TotalEnergies have other priority projects at the moment. Tullow Oil said today it “remains focused on securing a strategic partnership this year” for the project. However, the Indian bid faces stiff competition from Chinese state-held giant Sinopec, which is also reportedly in talks to buy into the Kenyan oil project.

Source: The North Africa Journal May 23, 2023 14:40 UTC