Tullow Oil, a leading independent oil exploration and production company, aims to complete the construction of a $1 billion oil pipeline in Kenya by 2022. According to Tullow Oil Kenya Managing Director Martin Mbogo, the 821 km pipeline will transport around 80,000 barrels of oil per day from the Lokichar oilfields in Northern Kenya to the Lamu seaport after completion. He noted that the pipeline will be a joint venture between the government and the Kenya Joint Venture (KJV)- whose shareholders are Tullow, Africa Oil and Total. Tullow Oil is also constructing oil fields to be financed by 70 percent debt and 30 percent equity. As a reminder, Kenya discovered commercial oil in 2012 in its Lokichar basin, which Tullow Oil estimates contains an estimated 560 million barrels in proven and probable reserves.

Source: The North Africa Journal February 21, 2019 14:48 UTC