With Uganda a done deal, eyes now turn to Kenya farm-out

摘要

WITH Tullow's Uganda exit under way, all eyes are now focused on the company's strategy for its South Lokichar basin oil blocks in Kenya. Tullow is working with French supermajor Total, one of its partners in Kenya, to jointly farm down part of their combined 75% stake in blocks 10A, 10BB and 13T. A transaction is widely expected to be wrapped up this year, albeit delayed by the impact of Covid-19. Recent reports suggested China's CNOOC International -already in Uganda - would be interested in the Kenyan assets, where Tullow's stake is 50% with Total and Africa Oil each holding 25% interests. Tullow's chair Dorothy Thompson told analysts last week: "A partial farm-down by Tullow and Total is progressing well but it has been delayed for various reasons, principally Covid-19.