Tullow to spend Sh22.5b as Kenya eyes first crude oil export in June

President Uhuru Kenyatta (right) during a meeting with Tullow Oil Chief Operating Officer Paul McDade, when he called on him at State House, Nairobi last year.

Tullow Oil plans to spend an estimated Sh22.5 billion in Kenya over the next one year as it prepares to start oil production on a pilot basis mid this year. The firm says it expects to go into full commercial production by 2020 as well as further exploration works in Turkana.

The firm said it would continue to invest cautiously, almost halving its capital expenditure budget across different operations to $500 million (Sh51.9 billion) in 2017 compared to $900 million (Sh93.4 billion) spent in 2016.