Tullow Oil is optimistic about finding an investor for the onshore oil project in Kenya during the second half of this year.
London-headquartered Tullow Oil has reached out to India’s major PSU in the oil & gas sector – ONGC Videsh Ltd. in Nairobi. The discussions between the two firms are about the London-based firm’s scouting for strategic investment for its onshore oil project in Kenya.
A senior official at the Ministry of Petroleum and Mining, Government of Kenya tweeted that the ministry officials had met the Indian High Commissioner to Kenya along with representatives of ONGC Videsh, the overseas investment arm of ONGC India, and Indian Oil Corporation Ltd., respectively.
“The meeting was positive and the parties agreed to hold further discussions in the coming weeks,” said the tweet by Tullow Oil regarding the aforementioned meeting. They also mentioned that the talks had been hosted by the Ministry of Petroleum and Mining.
Previously in July, the firm had expressed its optimism that it could make significant progress to find an investor for its onshore oil project in Kenya during the second half of the year.
Tullow Oil is an independent oil and gas exploration and production firm, focussed on Africa and South America. The Company has interests in over 30 exploration and production licences across eight countries around the world.