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LONDON (Bloomberg) -- Tullow Oil Plc, a UK exploration company, is in talks with Namibia’s government to withdraw from the $2 billion Kudu gas project as it shifts investments to other parts of Africa. Tullow, which has a number of large oil developments in western and eastern Africa, needs to allocate capital to those, the London-based company said Oct. 31 in an email. Tullow has a 31% stake in the Kudu project.
Hijackings of small oil tankers by armed gangs are increasing in Southeast Asia, home to the shortest sea-trade route between the Middle East and China, even as pirate attacks globally fell for a third year.
LONDON -- Kenya will need to focus on providing a competitive and stable fiscal environment if it is to fully exploit its offshore gas industry and attract investors ahead of Mozambique and Tanzania, says an analyst with research and consulting firm GlobalData. Reece Straker, GlobalData’s Upstream Oil & Gas Analyst, states that while Kenya is currently behind Tanzania and Mozambique in terms of discoveries, exploration interest has increased since Tullow’s first offshore discovery at block L8, announced in September 2012.
LONDON -- Tullow Oil has announced the results of a series of recent exploration and appraisal activities conducted in blocks 10BB and 13T onshore Kenya. The Kodos-1 exploration wildcat in Block 10BB is the first well drilled in the Kerio basin, northeast of the successful South Lokichar basin. Hydrocarbon shows were encountered in Kodos-1, which indicates the presence of an active petroleum system. However, reservoirs were mixed quality alluvial sands close to the basin boundary fault at this well location.
LONDON -- Chariot Oil & Gas has opted not to apply for a new exploration license in the Northern Blocks 1811A&B, offshore Namibia, with the current license due to lapse on Oct. 26. Chariot analyzed significant amounts of proprietary seismic and well data, as well as integrated information from third party drilling activity to study the possibility for long range hydrocarbon migration to the Zamba prospect.
