Africa Oil Corp (AOIFF)

[douginil]

Partners in Kenya's first oil project eye pipeline deal by mid-2018

March 2, 2018 by: Nerijus Adomaitis

OSLO (Reuters) - Companies developing Kenya’s first oilfields expect to conclude agreement on construction of an export pipeline by the middle of this year, according to Toronto-listed Africa Oil, one of the partners.

London-listed Tullow Oil, which struck oil in Kenya six years ago, and its partners proposed in January to transport oil from the land-locked Amosing and Ngamia fields via pipeline to the Indian Ocean port of Lamu 750km away.

“We’ve got two pipeline companies bidding ... Sometime before mid-year we expect to come to an agreement,” Africa Oil Chief Executive Keith Hill told an industry conference.

Africa Oil, which has previously sold part of its stake to Maersk Oil, was not looking to divest more, Hill said.

“We are getting more comfortable and staying to be a producer in Kenya ... We are not looking to sell,” he told the conference.

Read more at:
https://www.reuters.com/article/us-kenya-oil/partners-in-kenyas-first-oil-project-eye-pipeline-deal-by-mid-2018-idUSKCN1GE279