UK based Cove Energy said that, following the receipt of the consent of the Government of Kenya, all the necessary permissions and approvals have been granted to the company for the acquisition of a 15% participating interest in the Production Sharing Contracts (PSCs) covering five deepwater blocks from Dynamic Energy Exploration & Production (DEPCO).
The five deepwater blocks are L5, L7, L11a, L11b and L12, offshore Kenya .
The Blocks cover an area of 30,682sq km, located over a Kenyan deepwater zone from the Somalia border in the north to Tanzania in the south.
The acquisition is now unconditional and the transfer of the Interests by DEPCO’s subsidiary, Dynamic Global Advisors Kenya, to Cove’s wholly owned affiliate, Cove Energy Kenya, has been completed.
After the recently acquired 5000km 2D seismic survey and in light of the success in Mozambique, the operator, Anadarko Kenya is proposing to accelerate activity on the Blocks with a 3D seismic survey in 2011 followed by potential drilling in 2012.