Kenya Oil and Gas Industry

As per quarterly activities reports of Kenya oil and gas industry for last quarter of 2008, there have been a couple of new gas fields, which are being regarded as extremely important. These gas fields are in northern areas in Kenya. Reports from oil and gas industry in Kenya have confirmed that 7 new oil fields have been mapped in southern areas of Kenya.

According to latest reports from oil and gas industry of Kenya, some major names of global oil and gas industry have expressed interest in executing exploration activities in Kenya. National Oil, which is a major company of oil and gas industry at Kenya, has announced a few measures for bringing down levels of shortage of oil and gas throughout this country. This shortfall has been a persistent problem for Kenyan oil and gas industry for some years now.

Fourth East Africa Petroleum Conference is supposed to be held from 11th to 13th March in Kenya. This is an important event for Kenya oil and gas industry. As per reports from Kenya oil and gas industry oil and gas companies Origin Energy Limited, based in Sydney and Pancontinental Oil & Gas Limited, based in Perth, have let go Block L9, which is located at Lamu Basin.

These two companies have also brought down size of their license in Block L8, which lies next to Block L9. This has been a part of a reviewed agreement with national government of Kenya. They have identified areas that have been retained by them as being rich in oil and gas resources. This includes Mbawa structure, which is capable of containing 5 billion barrels of oil.

Origin Energy Limited is also providing financial backing to a three dimensional seismic program, which is worth $10 million. It is well known that Kenya does not have any oil reserve. This is why Kenya oil and gas industry has been supporting any overseas company that wants to look for oil and gas resources in Kenya. Upstream oil industry of Kenya is just about modest but is still very important as petroleum is a major fuel source for Kenya.