Kevin85ify
JF-Expert Member
- Apr 6, 2019
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Tullow Oil is set to invest $40 million (Sh4.1 billion) in its Kenyan operation this year as it gears up for commercial oil production.
The announcement by the British multinational came despite the local government rejecting its claim of spending a cumulative Sh204 billion in the Turkana oil fields. Tullow’s exploration and oil field development costs are expected to be recovered over years once production and sale of the commodity starts around 2022.
The announcement by the British multinational came despite the local government rejecting its claim of spending a cumulative Sh204 billion in the Turkana oil fields. Tullow’s exploration and oil field development costs are expected to be recovered over years once production and sale of the commodity starts around 2022.