Africa Oil, Tullow and TotalEnergies revise upward Project Oil Kenya costs
According to an independent audit conducted by Gaffney, Cline & Associates, Africa Oil Corp’s 25% stake in the Tullow-operated Kenyan project (50% interest) now represents a net present value (after tax) of some $577 million.
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▪ Africa Oil, Tullow and TotalEnergies revise upward Project Oil Kenya costs
▪ According to an independent audit conducted by Gaffney, Cline & Associates, Africa Oil Corp’s 25% stake in the Tullow-operated Kenyan project (50% interest) now represents a net present value (after tax) of some $577 million.
▪ https://www.africabusinessplus.com/en/809090/africa-oil-tullow-and-totalenergies-revise-upward-project-oil-kenya-costs/
Tullow Oil, Africa Oil and TotalEnergies, which holds the remaining 25% in Project Oil Kenya (POK), plan to submit their final development plan to the Kenyan government by the end of the year. This will satisfy the mining authority’s requirements to renew the licences for the two blocks that make up the project, 10BB and 13T.
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