| Kenya picks Britain's Wood Group for oil pipeline design | |
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NAIROBI (Reuters) - Kenya has picked Wood Group Plc (WG.L) to design an estimated $2 billion (1.43 billion pounds) oil pipeline to pump crude from fields in the north of the East African nation to an Indian Ocean port, a senior government official said on Thursday. Kenya discovered commercial oil reserves in its Lokichar basin in 2012 and the 800-km (500-mile) pipeline is expected to be built before production is due to start in 2021/22. Andrew Kamau, the principal secretary at the Petroleum and Mining Ministry, said the design work would take eight months. The government had invited engineering design bids in January for the pipeline, which is expected to cost $2 billion. Britain's Tullow Oil (TLW.L) operates the Kenyan fields, while the other investors are Canada's Africa Oil (AOI.TO) and France's Total (TOTF.PA). Kenyan is expected to take a stake through state-owned National Oil.
(Reporting by Duncan Miriri; Editing George Obulutsa) |
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Tullow Oil Plc
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EXPLORATION STAGE |
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CODE : TLW.L |
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ISIN : GB0001500809 |
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Tullow Oil is a oil exploration company based in United kingdom. Its main exploration property is BLOCKS I AND II - ALBERT BASIN in Congo Dem. Rep. of. Tullow Oil is listed in United Kingdom. Its market capitalisation is GBX 32.3 billions as of today (US$ 38.4 billions, € 34.4 billions). Its stock quote reached its highest recent level on October 18, 2013 at GBX 991.68, and its lowest recent point on January 08, 2021 at GBX 0.29. Tullow Oil has 1 386 600 000 shares outstanding. |