re: up again, good news is coming...? Hi acturtle,This may have...

re: up again, good news is coming...? Hi acturtle,

This may have something to do with it...

Cheers,
xmagx

Kenyan to drill exploratory oil well in November: Minister

www.chinaview.cn 2006-03-16 06:46:25

NAIROBI, March 15 (Xinhuanet) -- Kenya plans to drill its first exploratory oil well in three decades later this year after the authorities completed negotiations with Australian offshore drilling giants, Woodside Energy, to undertake the project in November.

Woodside Energy officials and Kenyan Energy Minister Henry Obwocha confirmed to PANA in Nairobi Wednesday that drilling equipment have been secured from a Japanese company, which is likely to make them available in June this year.

The Australian firm was earlier slated to drill the first oil well in April this year but the lack of the appropriate deep sea drilling equipment blocked them from continuing with the deal.

Woodside Energy Kenya General Manager Alex Taylor said that although it was still too "premature" to speculate on the potential of Kenya becoming a major oil producer, chances that large quantities existed in the East African nation were evident.

"We have spent a lot of money. We have invested heavily on this project and we could not have been doing it for nothing," Taylor told PANA in Nairobi on the sidelines of a Sudan International Investment conference in Nairobi.

Southern Sudan is hosting its first major international investment conference, barely four months after a complete semi-autonomous government was established in the region after years of protracted negotiations culminating in the end of 20 years of war in Sudan.

Kenyan officials said they had signed an agreement with Sudan to facilitate the sharing of information on exploration in the region, whose oil discoveries bodes well for Kenya.

"Drilling on L5 AND l7 will begin in November. We have signed an agreement for a drilling ship from Japan. Woodside Energy of Australia would undertake the drilling," said Obwocha after giving a keynote speech at the investors parley.

The Australian firm has been involved in negotiation with the Kenyan authorities over the exploratory oil well, which has been boosted by the availability of oil resources in Southern Sudan, about 100 km from the possible oil wells in Kenya.

Kenyan officials said although they had no proof the East African nation had commercial quantities of oil or hydrocarbons as they are called, the potentials looked impressive.

"I think its is a matter of time. Surely all these international companies could not be here for nothing. If Tanzania and even Uganda has discovered some oil deposits, then we cannot be the only one without the oil," said a technical manager with anoil company in Kenya. Enditem



http://news.xinhuanet.com/english/2006-03/...ent_4307474.htm