Onshore Block 11A covers 10,913sq km in northwest Kenya near the Ugandan border; onshore Block L1B covers 12,197sq km in eastern Kenya on the Somali border; and Block L16 covers 1,699 sq km onshore and 89 sq km offshore on Kenya’s southeast coast.
CAMAC Energy chairman and CEO Kase Lawal said the company is delighted to be awarded three exploration blocks in Kenya.
The firm with this agreement will enter East Africa on its preferred terms as operator with the ability to control the pace of exploration.
Furthermore, the award is subject to negotiation and signing of formal production sharing contracts for the Blocks within the next 30 days.
CAMAC is yet to secure approval by the Minster of Energy and the Board of Directors of CAMAC Energy, as well as payment of requisite signature bonuses upon signing.
CAMAC Energy will be the operator with 90% interest in the blocks.
