Browsing: ENI Kenya Business Venture (BV)

• Kenya is putting together incentives that could help mobilize Foreign Direct Investments in upstream oil activities.
• The latest developments add to efforts by the government to support Tullow Oil in scouting for investors for Project Oil Kenya.
• India and China are some of the countries where the government is keen on in tapping from.

In May 2023, an announcement by British oil explorer Tullow Oil that it wants out of Kenya's oil dream send shockwaves in the industry as its move threatened to derail the country's journey of becoming a net oil exporter.

At that moment, Tullow Oil partner, a Canadian firm Africa Oil Corp had left the project on concerns over difficulties in finding an investor, who can support Kenya's commercial oil export business.

The other partner TotalEnergies is fast shifting investment focus to oil producing fields in other markets. For Kenya to evacuate its crude, it has to…