Total to buy shares in Turkana oil blocks

President Uhuru Kenyatta (R) and Momar Nguer, a member of Total’s Executive Committee (PHOTO: Courtesy)

NAIROBI, KENYA: France’s Total SA will acquire shares in three Kenyan oil blocks from AP Moeller-Maersk.

A communication from State House said the government has consented to the proposed acquisition of the issued and to-be-issued share capital of Maersk Oil Exploration International (Mogas Kenya) in respect of Blocks 10BA, 10BB and 13T.

“Kenya is optimistic that the entry of Total into the Kenya Joint Venture will strengthen the financial resources and technical competence to the Joint Venture and this will go a long way in accelerating the development of the resources in these Blocks,” said Manoah Esipisu, State House Spokesperson.

Uhuru said his administration would accord support to Mogas Kenya and Total SA, and other private sector players that are keen to develop the country’s resources with the goal of delivering shared prosperity.

Total SA at the same time confirmed its commitment to the Lokichar-Lamu oil pipeline as the only evacuation route for Kenya’s crude from the Lokichar fields.

President Uhuru secured this commitment when he met Momar Nguer, a member of Total’s Executive Committee and its president for marketing and services, at State House, Nairobi.

He welcomed this commitment, which will fasten the development of the resources for the benefit of the Kenyan people.

Mr Nguer expressed Total SA’s confidence in Kenya’s oil sector.