“There are numerous prospects and leads in our Kenya licences L5 and L7,” Global said.
“Pomboo has established the presence of reservoirs and seals although the well lacked oil and gas shows. It is important that the decision on the next phase of exploration be determined after a comprehensive technical assessment of the relevance and implications of the new information obtained from Pomboo. This work is expected to occur over the next three to six months.”
Global said Woodside would discuss options with the Kenya Government “with a view to agreeing the appropriate way forward for the JV and Government”.
The costs associated with Global’s stake in L5 and L7 are carried for all activities through the drilling of the first well in each of these areas.
The L5 and L7 JV comprises Woodside Energy (Kenya) (operator with a 30% stake), Dana Petroleum (E&P) (30%), Repsol Exploracion SA (20%) and Global Petroleum (20%).
Another transaction is pending that will result in the transfer of a 3% interest in L5 and L7 from Dana to Repsol, resulting in Repsol having a 23% interest in L5 and L7 and Dana a 27% interest.
