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Kenya oil plan back on track as firms set to seal sale deal

 Tullow estimated the cost of production from the wells at $22 (Sh2,660) a barrel. [IstockPhoto]

Canadian oil company Africa Oil now says it expects the proposed sale of its stake and that of its partners in the Turkana oil project to close in just over a fortnight.

The move could be a turning point for the country's dreams of reaping petrodollars as it would finally pave way for commercialising the project.

A deal that would guarantee a deep-pocketed strategic partner would afford Africa Oil and its partner, British oil and gas exploration and production firm Tullow Oil as well as French giant Total Energies SE the much-needed cushion against risks for the multi-billion-shilling project.

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