Total Buys Oil Exploration Blocks in Kenya

22 Sep

Total, the French oil multinational, has acquired five offshore oil exploration blocks in the Lamu basin in Kenya, through its subsidiary Total E&P Kenya B.V and remains subject to the approval of Kenyan authorities.

The company together with two other firm will explore more than 30,500 square kilometres of Kenyan coast in what Totals sinor vice president exploration Mr Marc Blaizot, termed a high-potential area.

The multi-national will take up 20% stake from Anadarko Kenya company, 5% from Cove Energy and the whole 15% stake belonging to Dynamic Global Advisors.

The firm involved in exploration and development in Uganda and Tanzania, if succesful in it application to Kenyan Authorities, will add exploration as part of its focus in addition to the oil marketing business in Kenya.

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