Apache takes share of block L8 offshore Kenya

Offshore staff

SYDNEY, Australia – Origin Energy Kenya Pty Ltd. has agreed to sell a 50% interest in a production sharing contract on block L8, Lamu basin, offshore Republic of Kenya to Apache Corp.

Per the agreement, Origin was reimbursed historical costs of $13.2 million, Apache becomes operator of the permit, and Apache will meet a component of Origin’s expenses in drilling a wildcat well on the Mbawa structure in L8.

The Mbawa structure is a large, complexly faulted anticline mapped on 3D seismic data with potential for both oil and gas at inferred Cretaceous and Jurassic reservoir levels, says Origin.

As a result of this transaction the interest holders in PSC block L8 become: Apache, 50%; Origin Energy Kenya Pty Ltd, 25%; and Pancontinental Oil & Gas NL/Afrex Ltd, 25%. 

Click to Enlarge

06/15/2011



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...