Africa Oil Corp (AOIFF)

[douginil]

Water deal crucial for Kenya oil project might slip into Q3-Tullow
by: Shadia Nasralla February 22, 2019

NAIROBI (Reuters) - A deal with local Kenyan authorities that would allow Tullow Oil to pump water to pressurise oil wells, crucial for a final green light for the country’s only oil project, may be delayed to the third quarter, a Tullow executive said on Friday.

Tullow, with partners Total and Africa Oil, is working towards a final investment decision (FID) by year-end and had hoped the water deal would be reached by mid-year, Tullow’s Kenya Managing Director Martin Mbogo said.

“I would probably realistically put it more for Q3 in terms of landing that agreement,” Mbogo told Reuters, referring to the deal organising the way Tullow can tap a body of water straddling two counties in northwestern Kenya.

“(It’s) one of those things we absolutely need before we can get to FID.”


Read more at:
https://af.reuters.com/article/investingNews/idAFKCN1QB1L1-OZABS