National Oil, Schlumberger to develop Lokichar’s field development plan.
National Oil Corporation of Kenya has entered into an agreement with US firm Schlumberger Limited to build capability in field development planning and production optimization of the Lokichar oil discoveries.
The two firms will jointly develop a field development plan that will evaluate the scope of work being done by other exploration firms in what Chief Executive Officer MaryJane Mwangi says is aimed at safeguarding Kenya’s national interest.
Since crude oil discoveries were announced in February 2012, Kenya is projected to commercialize the natural resource in five years after the 210 billion shillings Likichar-Lamu Pipeline is completed.
Preliminary estimates indicate that Kenya could be sitting on crude oil reserves totaling about 750 million barrels.
National Oil Corporation of Kenya says the partnership with the American firm, Schlumberger targets technology transfer in reservoir characterization, drilling, production, and processing to the oil and gas industry.