Sunday, May 28, 2023
NEWSDAY
  • News
  • Politics
  • Lifestyle
  • World
  • In pictures
  • Luganda
  • In History
  • Sports
  • Perspective
  • Business
No Result
View All Result
  • News
  • Politics
  • Lifestyle
  • World
  • In pictures
  • Luganda
  • In History
  • Sports
  • Perspective
  • Business
No Result
View All Result
NEWSDAY
No Result
View All Result
Home News

Sinopec in talks with Tullow over Kenya oil exploration as experts question move

Experts have expressed pessimism over the project that is being abandoned by other powerful companies

by Newsday
May 25, 2023
in News
114 6
Sinopec in talks with Tullow over Kenya oil exploration as experts question move
3k
VIEWS

Chinese oil investors Sinopec are reportedly in talks with Tullow Oil to take over part of exploration in the Turkana area of Kenya after two joint partners quit the project.

Experts have expressed pessimism over the project that is being abandoned by other powerful companies due to lack of projections in profitability.

Reports indicate that Tullow Oil is cash strapped and cannot take the exercise off the ground.

The reasons advanced by Africa Oil include concentrating in other profitable regions while Total indicated that it had other monetary options to consider.

Related articles

NUP journalist tortured, charged with terrorism

NUP journalist tortured, charged with terrorism

May 27, 2023
Media appeared to sho men in UPDF like uniforms as captured

UPDF sends no-nonsense General Kayanja to probe Shabaab attack in Somalia

May 27, 2023

Africa Oil and Total owned 25% in three blocks located in the South Lokichar Basin.

Africa Oil President and chief executive Keith Hill said early this week: “We have taken the decision to exit our Kenya concessions as our strategy has shifted to focus on production and high potential exploration opportunities, including our Orange Basin portfolio where we are now appraising the exciting Venus discovery, offshore Namibia.”

Kenyan government officials said two Indian government companies and Sinopec were in talks with Tullow Oil to partner in the project.

“The two government-owned oil firms, the Oil and Natural Gas Corporation Videsh of India and Sinopec of China are reportedly in talks with Tullow Oil to acquire stakes in the Turkana oil project,” a Kenyan newspaper reported.

Tullow seemed to confirm the developments in an interview with Kenyan media thus, “The prospective strategic partners have been informed of current development and remain engaged as the detailed farm-out discussions continue with a number of companies.”

SINOPEC IN UGANDA

Recently, TotalEnergies EP which is undertaking oil production in Uganda’s Albertine region awarded the Engineering, Procurement, Supply, Construction, and Commissioning (EPSCC) tender to a consortium of McDermott/Sinopec International Petroleum Service Corporation for development of the Tilenga oil project—oil fields in Nwoya and Buliisa districts.

The deal worth about $2 billion will see the Tilenga project produce up to 200,000 barrels per day (kbpd) of crude oil out of six oil fields tapped by 31 well pads which will be connected to the proposed Central Processing Facility (CPF), where crude oil is separated from impurities such as water and sand before being fed into the proposed East African Crude Oil Pipeline (EACOP), or the greenfield refinery.

The six oil fields: Ngiri field is expected to produce about 50,00 barrels per day (kbpd); Jobi-Rii 70,000kbpd; Kasamene 20,000 kbpd; Wahirindi 3,250kbpd; Kigogole 20,000kbpd; and Nsoga 20,000kbpd.

 


Do you want to share a story, comment or opinion regarding this story or others, Email us at newsdayuganda@gmail.com Tel/WhatsApp........0726054858
Share156Tweet98SendShare
Next Post

DNA shocks Samona,10 children not his

Discussion about this post

  • List of shame: Govt names more than 1,000 thieves of public funds

    List of shame: Govt names more than 1,000 thieves of public funds

    2081 shares
    Share 832 Tweet 520
  • Jomayi faces total collapse as tycoon Kirumira takes his home, other properties lined for sale.

    564 shares
    Share 226 Tweet 141
  • DNA shocks Samona,10 children not his

    507 shares
    Share 203 Tweet 127
  • Isma Olaxes aka Jjaja Iculi shot dead, see his last video now

    490 shares
    Share 196 Tweet 123
  • UPDF base attacked with car, suicide bombers

    479 shares
    Share 192 Tweet 120
NEWSDAY

Your source of the most critical on spot breaking news from www.newsday.co.ug. Newsday Uganda is recognized by audiences around the world as a trusted supplier of news.

newsdayuganda@gmail.com
+256 726 054 858

Categories

  • Business
  • Entertainment
  • In History
  • In Luganda
  • in pictures
  • Lifestyle
  • News
  • Perspective
  • Politics
  • Sport
  • World

Recent Posts

  • NUP journalist tortured, charged with terrorism
  • UPDF sends no-nonsense General Kayanja to probe Shabaab attack in Somalia

© 2021 NEWSDAY.

No Result
View All Result
  • News
  • Politics
  • Lifestyle
  • World
  • In pictures
  • Luganda
  • In History
  • Sports
  • Perspective
  • Business

© 2021 NEWSDAY.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Posting....