French firm Total SA commits to Lokichar-Lamu pipeline in exchange for shares in 3 Kenyan oil blocks
President Uhuru Kenyatta secured the commitment when he met Momar Nguer, a member of Total’s Executive Committee and its president for marketing and services.
Lokichar to Lamu oil pipeline is the only evacuation route for Kenya’s crude from the Lokichar fields.
President Uhuru Kenyatta secured this commitment when he met Momar Nguer, a member of Total’s Executive Committee and its president for marketing and services, at State House, Nairobi on Tuesday.
President Kenyatta welcomed this commitment, which will fasten the development of the resources for the benefit of the Kenyan people.
Mr Nguer expressed Total SA’s confidence in Kenya’s oil sector.
President Kenyatta said his administration would accord support to Mogas Kenya and Total SA, and indeed other private sector players that are keen to develop the country’s resources with the goal of delivering shared prosperity.
Following Total SA’s commitment, the Government has consented to a proposed acquisition of the issued and to-be-issued share capital of Maersk Oil Exploration International (Mogas Kenya) in respect of Blocks 10BA, 10BB and 13T.
Kenya is optimistic that the entry of Total into the Kenya Joint Venture will strengthen the financial resources and technical competence to the Joint Venture and this will go a long way in accelerating the development of the resources in these Blocks.
JOIN OUR PULSE COMMUNITY!
Eyewitness? Submit your stories now via social or: