Kenya launched its first oil and gas licensing round in years, offering 10 exploration blocks to investors to attract international companies to the country’s nascent sector. Energy Minister Opiyo Wandayi and Principal Secretary for Petroleum Mohamed Liban announced the round, highlighting the strategic locations of the blocks in the Lamu and Anza basins and the new flexible contract terms being offered. This initiative follows a restructuring of the petroleum sector and the withdrawal of the previous operator, Tullow Oil, from its Kenyan assets. The government also signed a Memorandum of Understanding (MoU) with Algeria’s SONATRACH to strengthen cooperation in the oil and gas sector, including areas like exploration, production, and LPG development.
The blocks are strategically situated in the Lamu and Anza basins, regions known for proven discoveries and significant untapped potential.
The government is offering flexible Production Sharing Contract (PSC) terms and tax incentives to encourage investment.
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