Oil Discovery in Turkana, Kenya

In: Science

Submitted By Kehinde
Words 1205
Pages 5
OIL DISCOVERY IN TURKANA, KENYA
Following the announcement by the Kenya Government of the oil find in Turkana, the media has been awash with articles on this important discovery. The Ministry of Energy has provided the information on Turkana.
Kenya has four petroleum exploration basins Lamu, Anza, Mandera and Tertiary Rift with a combined surface area of about 500,000 square kilometres. For effective petroleum exploration these basins have been divided into smaller units called Blocks. Depending on progress made in exploration, these Blocks are revised from time to time to include new ones created to meet the increasing demand by oil prospecting companies. Currently there are 46 of them from an initial 21 blocks in 2005.
Oil exploration which includes drilling of exploratory wells is an extremely capital intensive undertaking and for countries such as Kenya without any proven commercial discoveries (otherwise defined as frontier exploration areas), it is usually difficult to attract major oil prospecting companies. Kenya status as a frontier exploration area, therefore, is a key disincentive to major international oil companies who have the requisite resources for underwriting attendant high petroleum exploration risks. Such major and high profile oil prospecting companies usually divert their risk capital to countries with proven and delineated hydrocarbon reserves and where production is on-stream or being negotiated.
As at 2005 only three companies, Star Petroleum, Afrex and Pancontinental Oil & Gas were carrying out exploration in seven of the 21 Blocks. Due to the high investment risk, Star Petroleum partnered with Dana Petroleum and both invited and signed participation agreements for a number of blocks with Woodside Energy of Australia, a multi-billion dollar natural gas company. Under these agreements, Woodside Energy became the principal partner and…...

Similar Documents

Kenya Report

...An Evaluation of Micro-Finance Programmes in Kenya as Supported through the Dutch Co-Financing Programme With a focus on KWFT Otto Hospes Muli Musinga Milcah Ong’ayo November 2002 Study commissioned by: Steering Committee for the Evaluation of the Netherlands’ Co-financing Programme 3 Contents List of contributors List of abbreviations Acknowledgements 1 1.1 1.2 1.3 1.4 1.5 1.6 1.7 2 Introduction Background and objectives Legitimization and overall objective of Dutch CFAs to support micro-finance programmes Partners of Dutch CFAs operating in the micro-finance market of Kenya Central questions Organization and methodology Process implementation and limitations of the study Structure of the report A brief description of micro-finance in Kenya and agencies as supported by Dutch CFAs Micro-finance in Kenya 2.1.1 The emergence of micro-finance as an industry 2.1.2 Types of micro-finance agencies in Kenya 2.1.3 Service delivery approaches 2.1.3.1 Savings services 2.1.3.2 Loan products 2.1.4 Outreach 2.1.4.1 Banks 2.1.4.2 NGO-MFAs 2.1.4.3 Savings and Credit Co-operatives (SACCOs) 2.1.4.4 ROSCAs and ASCRAs A profile of micro-finance agencies and schemes as supported by Dutch CFAs 2.2.1 General profile 2.2.2 Specific profiles 2.2.2.1 K-REP Development Agency (KDA) 2.2.2.2 Kenya Women Finance Trust (KWFT) 2.2.2.3 Jitegemea Credit Scheme (JCS) 2.2.2.4 PRIDE Africa – Sunlink Some conclusions 7 9 11 13 13 15 16 17 17 18 19 21 21 21 23 25 26 28 28 31 33 35 35 36......

Words: 76935 - Pages: 308

Effect of Oil Prices on Inflation in Kenya

...a country like Kenya? Because so many other problem are putting multiplier times negative impact on GDP and other macro economic variables such as inflation. Oil and other petroleum products are scarce commodities in the world. Like prices of other commodities the price of crude oil experiences wide price swings in times of shortage or oversupply. The crude oil price cycle may extend over several years responding to changes in demand as well as OPEC and non-OPEC supply. Throughout much of the twentieth century, the price of U.S. petroleum was heavily regulated through production or price controls. In the post World War II era, U.S. oil prices at the wellhead averaged $28.52 per barrel adjusted for inflation to 2010 dollars. In the absence of price controls, the U.S. price would have tracked the world price averaging near $30.54. Over the same post war period, the median for the domestic and the adjusted world price of crude oil was $20.53 in 2010 prices. Adjusted for inflation, from 1947 to 2010 oil prices only exceeded $20.53 per barrel 50 percent of the time. (See note in the box on right.) Until March 28, 2000 when OPEC adopted the $22-$28 price band for the OPEC basket of crude, real oil prices only exceeded $30.00 per barrel in response to war or conflict in the Middle East. With limited spare production capacity, OPEC abandoned its price band in 2005 and was powerless to stem a surge in oil prices, which was reminiscent of the late 1970s. Crude Oil Prices 1947......

Words: 11224 - Pages: 45

Discovery Wheel

...Team Building Worksheet TEAM B Complete the Team Building Worksheet by answering the following questions in 200 to 300 words each. 1. Describe team members’ results on the Discovery Wheel and develop your multiple Intelligences exercises. What similarities and differences exist within the team? Jamie: My discovery wheel looked just like a lollipop! My strongest points were purpose, attitude, and communication. I really feel like it was a pretty accurate analysis and my weakest was health. I really know I need to start working on my health and what I eat and how I put exercising on the back burner. I am a Kinetic learner and Visual. I learn best when I can apply what I know to my life. If I can see it I can store in my memory bank which I think is the best way to learn. This was a great eye opener! Cicely: After completing the Discovery Wheel, I was able to become more aware of my studying habits. I was already aware of some of my faults when it comes to studying. But I didn’t realize the correlation between the habits in my health in and money managing skills. I now see that by improving my studying habits is a way to better other area in life. Mario: I see a lot of similarities on how my attitude effects my time management and my ability to commit to reading. Not how that relates to other areas though. I also see how my thinking, communication, and diversity are related. They all tie into how I choose present a......

Words: 358 - Pages: 2

Kenya

...got into good schools. To date, Singaporeans think that two is the right number of children. Perhaps the most enduring move was the requirement that all workers save a minimum of 25 per cent of their salaries. They would claim the money only after the age of 55. This formed one of the secrets behind Singapore’s incredible economic growth. The money would go into a Central Provident Fund, with which the government built roads, schools, hospitals and housing. Yew’s administration saw 74 per cent of families owning their homes. His goal, however, was 100 per cent. It is hard to define Singapore. This is a dictatorship nation blended with free flow of information. Read more at: http://www.standardmedia.co.ke/lifestyle/article/2000087837/why-kenya-should-follow-in-singapore-s-footsteps-to-tackle-rising-unemployment These tremendous developments have successfully kicked poverty out of Singapore. Currently, the percentage of unemployed people above the age 15 is two per cent, the highest employment rate internationally. The Ministry of Manpower says the impressive employment level is due to unrelenting emphasis and investment in education. Social cohesion and paths to self-betterment. Cohesion: tolerance across vertical and horizontal divides Access to political representation and dispute resolution Policing and security of property, tenure and person. Access to and equality before the law Access to education and information Access to work, security in work,......

Words: 687 - Pages: 3

Kenya

...KENYA GENERAL INFORMATION Kenya, officially the Republic of Kenya, is a sovereign state in Africa.  Its capital and largest city is Nairobi.  Kenya lies on the equator with the Indian Ocean to the south-east, Tanzania to the south, Uganda to the west, South Sudan to the north-west, Ethiopia to the north and Somalia to the north-east. Kenya covers 581,309 km2 (224,445 sq mi) and has a population of about 44 million in July 2012. The country named after Mount Kenya, the second highest mountain in Africa. The country has a warm and humid climate along its Indian Ocean coastline, with wildlife-rich savannah grasslands inland towards the capital. Nairobi has a cool climate that gets colder approaching Mount Kenya, which has three permanently snow-capped peaks. Further inland there is a warm and humid climate around Lake Victoria, and temperate forested and hilly areas in the western region. The northeastern regions along the border with Somalia and Ethiopia are arid and semi-arid areas with near-desert landscapes. Lake Victoria, the world's second largest fresh-water lake and the world's largest tropical lake, is situated to the southwest and is shared with Uganda and Tanzania. Kenya is famous for its safaris and diverse wildlife reserves and national parks such as the East and West Tsavo National Park, the Maasai Mara, Lake Nakuru National Park, and Aberdares National Park. There are several world heritage sites such as Lamu, and world renowned beaches such as Kilifi where......

Words: 12708 - Pages: 51

Unconventional Oil

...IMPACT OF THE DISCOVERY AND EXLORATIONOF UNCONVENTIONAL OIL ON CONVENTIONAL OIL OPEC STATES | BYNAME:STUDENT ID:MODULE: | | | Contents Contents 1 Introduction 2 OPEC (Organization of the Petroleum Exporting Countries) 2 UNCONVENTIONAL OIL 3 SOURCES OF UNCONVENTIONAL OIL 3 CONVENTIONAL OIL 4 PESTLE ANALYSIS 4 PESTLE ANALYSIS ON NIGERIA 4 PESTLE ANALAYSIS ON U.S 6 Conclusion 9 References 10 Bibliography 10 Introduction The producers of oil which are outside the OPEC (Organization of Petroleum Exporting Countries) are been recorded to be producing almost 60 percent of the oil used in the world with constant increase in the hurdles of production (Khadduri, n.d.). Some researchers have indicated that the Non-OPEC states is as a result of having less producing wells, high costs of new projects, older wells and in most cases the increase in the home demand of oil which may cut the oil for exportation (Nakhle, 2013). Increases in the prices resulted in the difficulty of oil project and making it lucrative, resulting in the increase of the production of unconventional oil. Though at a time, there’s declination in the Non-OPEC oil production as the investing in new production of oil becomes tougher as a result of tightening, volatility of oil price, resource nationalism and credit markets (Brendow, K;, 2003). Now the unconventional oil production by Non-OPEC states is coming up as originally projected as few of the producers are been expected to......

Words: 2700 - Pages: 11

Age of Discovery

...Age of Discovery People Bartolomeu Dias – A Portuguese explorer who’s motives were “to serve God and his Majesty, to give light to those who were in darkness and to grow rich as all men desire to do”. Anne Boleyn – The second wife of Henry VII, she promised Henry that if he married her she would produce a son. Instead she gave birth to Elizabeth I, she was soon beheaded by Henry. Catherine of Aragon – Henry VII first wife who gave birth to a daughter, Mary. She was divorced and replaced by Anne Boleyn. Charles V – The Holy Roman Emperor who was a devoted Catholic, he opposed to Luther’s teachings. He summoned Luther to the town of Worms in 1521 to stand trial so he could take back statements. Yet Luther refused, Charles issued the Edict of Worms and declared Luther an outlaw. Charles went to war with the Protestant princesses who followed Luther, ordering all the princesses to the city of Augsburg. There the princesses signed the Peace of Augsburg. Christina de Pizan – One of the first European writeres to question different treatment of boys and girls. She was highly educated for her time and one of the first women to earn a living as a writer. She produced many books and manual son military techniques. Desiderius Erasmus – A Christian humanist who wrote his most famous work The Praise of Folly. Erasmus believed in Christianity from the heart, not one of ceremonies or rulers. He thought that in order to improve society, all must read the Bible. Edward VI – The......

Words: 2852 - Pages: 12

Self-Discovery

...Self-discovery Throughout one’s lifetime changes in a person’s views toward life are inevitable. Those changes can be seen as either positive or negative based on the experiences a person goes through. Some changes are seen as internal while others are seen as external. For instance, in Monkey by Wu Cheng-en and Candide by Francois-Marie Arouet De Voltaire, both authors are using their characters to portray self-discovery by having them go through a series of obstacles. As a result the characters changed their attitude toward life through the many obstacles that they had to undergo. Self-discovery is an essential part of a person’s life which can be seen internally or externally through a person’s characteristics and actions. The novel Candide is centered around the character of Candide who sets out on a journey to self-discovery in which he has “his eyes opened up to the true ways of the world” (www.associatedcontent.com). However, in this novel changes in Candide’s character can only be seen externally. Even though his opinions of the world change, he seems to hold on to the same essence throughout the entire story. At the beginning of the novel we see that Candide is very naïve and we also see that he only believes whatever he hears. Candide believes everything that Pangloss teaches him. Candide’s ignorance is shown when he sits with the Bulgars and says “You are quite right, it is just as Dr. Pangloss always told me, and I see clearly that......

Words: 2530 - Pages: 11

Conducting Business in Kenya

...Conducting Business in Kenya February 13, 2015 Abstract As a business consultant for XYZ Medical Group, our mission is to travel to East Africa and build a HIV/AIDS clinic. Our goal is to educate different communities on the importance of safeguarding their health against contracting this disease. XYZ Medical Group has designed a program that has been successful in New York City and Philadelphia. Pursing international endeavors will be challenging when it comes to cultural and business practices. Understanding the different cultures and how to interact to convey the message is crucial. In order to be successful there must be policies and a strategic framework for mobilizing and coordinating resources for the prevention of HIV/AIDS transmission and provision of care and support to the infected and affected people in Kenya. AIDS is an epidemic throughout Africa and Kenya is not excluded. Currently, most people are not educated on the dangers of this disease due to ethnic, cultural, and religious beliefs. The country’s diverse culture, customs and gestures, political imbalance, economic state, and how they conduct business with foreign influences are some issues that will be addressed and solved before entering this venture. Conducting Business in Kenya Kenya or the Republic of Kenya is a newly independent country that gained its independence in 1963 from British colonial rule. Kenya is located in East Africa and is bordered by Tanzania, Uganda, South Sudan.......

Words: 2776 - Pages: 12

South China Seal Oil Dispute

...South China Sea Oil Dispute International Business Law – BUL 6850 South China Sea Oil Dispute Introduction The South China Sea dispute is a territorial wrangle among certain Asian countries. The rivalry dates back to the Sino-Japanese War of 1894 (Roberts & Buszynski, 2015). The interest by these countries is the suspected oil potential of the region and fishing grounds. China claims the majority of the area covering hundreds of miles east and south of its southern province of Hainan. Other countries involved in the dispute include Taiwan, Vietnam, the Philippines, Malaysia, and Brunei, all part of the Association of Southeast Asian Nations (ASEAN) (See Appendix 1). The United States (U.S.) is an interested entity in the dispute based on the enormous number of commercial goods that pass through the sea each year (Dutton, 2014). This study will utilize the outcome of historical resolutions taken to resolve the dispute and analyze the conflict. Conducting a thorough analysis of this dispute is significant because it will set a good precedence for other existing global territorial disputes. In addition, finding a working solution for the dispute will benefit the ASEAN member countries through stability and other interested entities, such as the U.S., who rely on the South China Sea for trade. This paper will propose an International mediation alternative to the South China Sea oil dispute that will promote joint utilization of the natural resources within the......

Words: 6528 - Pages: 27

Kenya

...needs.“You don’t need to know all the answers. No one is smart enough to ask you all the questions”. – Unknown 16. Do Crosswords ‰- Crosswords are very effective in making your brain work and exercise. 17. Take Breaks ‰- Your brain is just a muscle and overworking it will only cause problems. Take periodic breaks to keep your brain fresh and productive. And never forget to sleep. 18. Refine Your Thinking – Don‰’t just think but think about how you are thinking when you think. It‰’s a quite a handful of words, but it works. If you plan out your thinking process you will think more productively. 19. Eat Brain Food ‰- There are many foods which have been associated with brain health, including dark green vegetables, fish oil and nuts. Try to incorporate as much as brain food into your diet. 20. Draw Diagrams and Charts ‰-Try to organize your thoughts using diagrams and charts whenever possible. This reorganization is very helpful in increasing intellect. 21. Quiz Yourself ‰- To become more intelligent try to always challenge yourself and push your brain to the limits. So if this simply means that by using your opposite hand you are challenging yourself; do it. 22. Keep Your Brain Working ‰- Your brain should never stop working unless you are sleeping or taking periodic breaks as mentioned above. Keep your brain active, and clicking on all cylinders. 23. Get a Rubik‰’s Cube – A Rubik‰’s cube is a great way to exercise your brain and build......

Words: 919 - Pages: 4

Kenya Economic State

...Kenya VN Term Paper 3 Introduction The republic of Kenya is located on the equator along the east coast of Africa, with a population size of 44.86 million and a population growth rate of 2.6%. The per capita GDP for the country is around $2,818.00, but with a Gini coefficient of 47.7 the wealth of the country is not evenly dispersed, leaving many to survive on much less (Cite 3,5). Forty-two percent of the population lives in poverty and 30% of them were considered undernourished in 2014 (Cite 7). There has been in a demographic shift over the past 10 years, with the crude death rate dropping to eight and the crude birth rate slowly decreasing to 35 (Cite 6). Because the death rate is slowing faster than the crude birth rate, there will be a major change in the demographic of the country through the next few generations. The country faces many hardships that can accompany population growth, such as natural resource demand, food scarcity, poverty and malnourishment. The population growth in Kenya has increased demand on food and has exacerbated the problems that the current food shortage has already created. We can project the percentage of growth in food demand as a function of percent change in income multiplied by the income elasticity, then add the sum to the percent change in the population for the country. With this information we can estimate the amount of food demand increase that a country will be facing. Kenya’s growth in food demand is 6.79%, which......

Words: 1635 - Pages: 7

Kenya

...Rafaella Rusmigo Erasmus Student MUP 12/7/2015 Kenya Abstract Throughout time, we have seen countries evolve from many different circumstances, most of which circumstances were from colonial exploitation. European colonialism dates back to the age of exploration and the discoveries that were found overseas from the mainland of Europe. The colonists were brutal to the natives called savages, ruthless to the innocent, and exploiters of the native people and their native lands. In Africa, the Europeans had penetrated it in the 1600-1700’s. In the 1800’s the entire continent did not have a single free independent nation state, all of Africa belonged to the Europeans. Kenya was significantly impact by the imperialists. The historical evidence of Kenya’s economy, culture, and social standards comes from the British rule from 1888-1963. The main purpose of this document is to understand the fundamentals of British colonialism and the British conquest in Kenya. Through examining important points in the history of Kenya, we will found out what are the legacies of the colonial period for Kenya and if they are still relevant to the country today. Republic of Kenya Kenya is a country in East Africa with its territory lying on the equator and overlies the East African Rift covering a diverse and expansive terrain that extends roughly from Lake Victoria to Lake Turkana and further south-east to the Indian Ocean. It is bordered by Tanzania to the south, Uganda to the......

Words: 4755 - Pages: 20

Discovery

...The "Business Discussions" section's Question 1 on Page 117 How does discovery work? During discovery both the plaintiff and the defendant are called on to produce facts that are impertinent to the case. The lest expensive way to do this is through interrogatories in which the opposing party is given a series of questions to answer to the best of their knowledge. A more expensive way is when witnesses to the case are called in for a deposition and asked question to which that have to answer orally. Also, either party may ask for particular documents to be produced such as, warranties, contracts, receipts, etc., called request for production of documents. After one or all of these methods are used one of the parties may have a request for an admission to eliminate certain issues in the dispute and possibly come to an agreement that will avoid the case going to court. Can you be required to testify twice in a deposition and at trial? Yes a person can be required to testify twice in a deposition and at trial as long as the testimony they are given is not a repeat of what was already offered. Should you shred all documents you have a bout the case? You know that some of the documents will not put the firm in the best light. No, you should never shred any evidence. You should offer up any documents that is relevant to the case. You wonder what will happen at trial. Will it be like what you have seen on TV or in the movies? Real life court will be......

Words: 535 - Pages: 3

Kenya Economy

...OF CONTENTS TABLE OF CONTENTS 2 Introduction: Kenya Economy (Sub-Saharan Africa) 3 Objective of the study 4 Macro Economic Indicator Table 5 GDP Trend 6 Trade and Industrial Policy 9 Exchange rate policy 17 Monetary policy & Fiscal Policy 21 References: 26 Introduction: Kenya Economy (Sub-Saharan Africa) Kenya is considered by many today to be the heartland of East Africa. It has a total area of approximately 580,000 km2, making it slightly smaller than the state of Texas. The country's southeastern border is defined by the Indian Ocean, and its southwestern border includes a small portion of Lake Victoria. Kenya's climate changes from tropical along the coast to arid in the interior. Although Kenya is located on the equator, temperatures of many of its cities are moderate because they were built at high altitudes. The terrain consists of low plains, central highlands, which are separated by the Great Rift Valley, and a fertile plateau. However, as little as 3% of the total land area of the country is arable (able to support a crop). It is the 47th largest country in the world in terms of land area; Major agricultural products in the country are tea, coffee, wheat, sugar cane, dairy products and eggs. Important industries of the country are cement, tourisms, oil refining, and consumer goods. Kenya's economy relies heavily on agriculture and tourism Currency: Kenya shilling. National accounts base year: 2001. SNA......

Words: 5761 - Pages: 24