Skip to comments.‘Incredible increase’ in oil, gas in East Africa
Posted on 06/22/2013 11:25:14 AM PDT by thackney
East Africa is in the middle of an incredible energy boom that is likely to last decades, according to energy industry executives who gathered this week in Kenyas capital in a sign of the regions growing prominence.
The last couple of years have seen significant oil and gas discoveries in Kenya, Uganda, Tanzania and Mozambique. Even Somalia hopes to get onboard though security woes and a lack of regulation make the likelihood still years away.
This region was definitely underexplored in the last decade, said Martin Trachsel, the chief executive of South Atlantic Petroleum Limited. Most companies were exploring in West Africa. Its part of a general trend of people looking for more oil.
New technology also has contributed to the string of new discoveries, he said.
The industry is innovative. It always finds new plays and new ways of finding oil and gas, Trachsel said.
Kenyas president announced last year that oil had been discovered there for the first time. Tullow Oil, which is carrying the exploration in the region, has reported progress in bringing the oil to market, though no date for that has been announced.
Uganda, which has confirmed oil deposits of about 3.5 billion barrels, wants to extract at least 1.2 billion barrels over the next three decades. That figure could rise when more oil blocks are put up for exploration later this year, potentially making Uganda one of Africas top oil producers.
It wont be boom and bust. Were talking about fairly large reserves, Trachsel said. It will have a 40-year lifetime or more.
Allegations of corruption in the oil procurement progress already have dogged the situation in Uganda, though.
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King hussein’s main purpose of the little excursion to the sub-continent. Let the folks know there’s no future in energy production if they want to save the planet. Maybe some of them will tell him to go pound sand. No more pollution. And he really, really means it. Except for all the support equipment that he needs for their little jaunt. Must be nice to be the (p)resident. Like the Atlantic fleet sitting offshore “just in case” they’re needed. Plane loads of bullet proof glass. Humvees. Limos. Evian. Or was it Peligrino.
Forgot. Ya think he’ll have any problem getting support if needed? Unlike the folks at Benghazi who trusted this bufoon to have their backs.
Prediction: Environmentalists will oppose this on the grounds that fracking is making the Great Rift spread even faster..
“Environmentalists will oppose this on the grounds that fracking is making the Great Rift spread even faster..”
They would be fed to lions over there.
PETA will oppose feeding humans to lions..it’s not part of their natural diet..
Look for the Chinese, Russians and Muslims to start a serious war in Africa to steal the resources. They are all putting men in place for a while.
Or because we all know peak oil was suppose to happen and this well prove that peak oil wasn’t true after all along with many other finds.
They will also feed PETA people to lions over there
The Red Chinese are way ahead in grabbing control of East African resources. They have their state controlled Oil and natural resource companies & workers there and have used the mountain of US dollar payments [US -> China for Walmart sh!t] to buy up African governments & resources.
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I expect many of these countries will be toxic waste lands before too long, & just as poor as before oil was found.
The Chinese are leading the exploration in much of Africa. We know about China & pollution: Bejing air is so bad only a choking fool would live there & their rivers are every color of the rainbow but blue. You can be sure they will give the African environment even less consideration.