A lot more oil in Kenya

A lot more oil in Kenya Kenya’s oil reserve may be a lot bigger than previously assumed. Canadian energy group Africa Oil discovered new reserves, adding 150 million more barrels of oil to the reserves, which is 24 per cent more than earlier estimates.

In March, British energy group Tullow Oil discovered an active petroleum system with significant oil generation in northern Kenya. Tullow and Africa Oil have been exploring the basin, believed to have as much as 1 billion barrels of oil. A large amount of oil like this could make Kenya an oil exporter in the future, although Kenya currently lacks the infrastructure to produce and export oil at scale.

Quartz Africa reports that when producing at a large scale, fiscal revenues for Kenya would be about $9 billion a year, or 16% of Kenya’s GDP (source: the World Bank).

Further reading on qz.com

Image by Lydur Skulason, via Wikimedia Commons

< Previous Next >

Related articles

In Kenya, Aleutia is building solar-powered classrooms in rural communities in 47 locations across the country and it only takes 48 hours to build one.