Home Reports Total Purchases Maersk Oil: Great Opportunity or Delays for Kenyan Project?

Total Purchases Maersk Oil: Great Opportunity or Delays for Kenyan Project?

Total Acquires Maersk Oil

Maersk Oil made headlines last week through the decision by its parent company, Danish conglomerate A.P Moller-Maersk, to sell off to Total in a $7.45 Billion deal. The repercussions sent ripples across the oil and gas industry and may have a huge impact here in Kenya. In 2015, Maersk Oil completed a $427 Million farm-in agreement with Africa Oil Corp acquiring 50% of Africa Oil’s interests in Blocks 10BA, 10BB & 13T in Turkana County in Kenya. Tullow Oil is the operator of the aforementioned Kenya Blocks with a 50% interest, with Africa Oil Corp (25%) and Maersk Oil (25%) holding the remaining interests (collectively known as the South Lokichar Joint Venture). Preparations are currently ongoing to conduct Front End Engineering and Design studies in preparation for the Field Development project phase of the South Lokichar discoveries.

Read more: KCSPOG Update: Total – Maersk Oil 092017