Tullow seeks state agreement on Turkana costs
The project has resumed after a five-month halt, but doubts are growing over its future
Tullow Oil’s longstanding ambition to sell part of its stake in Kenya’s much-delayed Turkana crude project may depend on the Anglo-Irish firm agreeing state compensation for its development costs. Kenya’s Turkana oil reserves, discovered in 2012, are estimated at 560mn bl. Tullow owns 50pc of the project, while its partners, Canada’s Africa Oil Corp. and Total, each hold 25pc. A top Tullow executive told Petroleum Economist last year that FID would likely happen in the second half of 2020, having signed heads of terms with Kenya last June, but this year’s oil price slump has again placed the project in doubt. “I do not know how long the audit process will take. We need a viable project
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
