Kenya Upstream Sector Paints Gloomy Future For Exploration
Source: https://oilnewskenya.com/kenya-upstream-sector-paints-gloomy-future-for-oil-exploration-brighter-development-phase-in-2020/
In 2020 there is expected to sustained low periods of exploration with few IOCs mainly new companies drilling in Kenya for the first time in their respective blocks. As in the past 2 years the majority of the companies will be necessitated by contract obligations with oil prices expected to remain unpredictable with tensions in the Middle East expected to be the main cause where increase in prices is expected..
Kenya could see a resurgence of exploration works offshore while there is still expected to be little or no seismic acquisition.
The outlook thus paints a dull 2020 for the upstream oil and gas sector in Kenya especially in the exploration phase and until boardroom negotiations conclude as partners in the south Lokichar basin head for the development phase. Still in the tertiary blocks 10BB and 13T the early oil pilot scheme is expected to continue with increases in transportation and production expected from the Amosing and Ngamia fields.