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Tullow exit puts Kenyan firm Gulf Energy in driver's seat for oil riches

Workers walk past storage tanks at Tullow Oil's Ngamia 8 drilling site in Lokichar, Turkana County, Kenya, February 8, 2018. Picture taken February 8, 2018. [Courtesy]

Influential Kenyan energy and infrastructure group Gulf Energy has agreed to acquire Tullow Oil's entire Kenyan holdings for a minimum of $120 million (Sh15.4 billion).

The landmark move positions the local firm-which has risen to prominence in recent years following lucrative State-backed business deals-as the key player in the long-stalled Turkana oil project and its potential future riches.

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