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Petroleum industry

Australia's Pancontinental Oil and Gas to Begin Seismic Surveys Off Kenya's Coast

Strategic Insights

— 2 min read

The Australian-based Pancontinental Oil and Gas company is planning to start seismic surveys on two exploration blocks off the coast of Lamu later this year, amidst growing interest in Kenya's potential petroleum resources. According to the company, 3D and 2D marine seismic surveys will commence in late 2011 on blocks L10A and L10B, with the work expected to be completed by mid-2012. The company's joint partners include BG Group Plc, Premier Oil Investment, and Cove Energy Plc. Pancontinental's CEO, Mr. Barry Rushworth, has expressed surprise at the diversity and size of leads and plays identified in the operator's initial review of L10A and L10B.

Key Takeaways:

  • Pancontinental Oil and Gas plans to begin seismic surveys on two exploration blocks (L10A and L10B) off the coast of Lamu in late 2011, with the work expected to be completed by mid-2012.
  • The company will use 3D and 2D marine seismic surveys to identify the most prospective areas for drilling, with the goal of completing two wells by August 2013.
  • Pancontinental Oil and Gas holds joint exploration licences for four blocks off Lamu, along Kenya's south coast, and has submitted an environmental impact assessment (EIA) to the National Environment Management Authority (NEMA).
  • Two other firms, Tullow Oil and Africa Oil, are also expected to start new exploration tests in the fourth quarter of 2011.
  • Tullow Oil plans to drill two test wells in northern Kenya by the end of 2011, while Africa Oil aims to drill at least 7 to 10 exploratory wells across east Africa over the next 18 months.

Statistics:

  • Two exploration blocks (L10A and L10B) will be surveyed off the coast of Lamu.
  • 3D and 2D marine seismic surveys will be used to identify prospective areas for drilling.
  • The work is expected to be completed by mid-2012.
  • Two wells are required to be drilled by August 2013.
  • The country has yet to discover any commercial oil deposits, but interest in its exploration blocks has grown since neighbouring Uganda discovered billions of barrels in its Lake Albert rift.
  • Tullow Oil expects to produce oil in Uganda's Lake Albert rift in 2012.

Sources:

  • "Australia's Pancontinental Oil and Gas to begin seismic surveys off Kenya's coast" (Business Daily/All Africa Global Media, via COMTEX, September 01, 2011).
  • Reuters, cited in "Pancontinental Oil and Gas begins seismic surveys off Kenya's coast" (Business Daily/All Africa Global Media, via COMTEX, September 01, 2011).
  • Tullow Oil, cited in "Tullow Oil to start oil production in Uganda's Lake Albert rift in 2012" (Business Daily/All Africa Global Media, via COMTEX, September 01, 2011).
  • Africa Oil, cited in "Africa Oil to drill at least 7 to 10 exploratory wells across east Africa over the next 18 months" (Business Daily/All Africa Global Media, via COMTEX, September 01, 2011).

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