Africa Oil (TSX:AOI) expects a number of developments in the next month or so, including the spud of the Gazania well, an extension to its licence in Nigeria and the signing of a Kenya deal.
Amid higher oil prices, Tullow Oil is beginning to scale up its growth plans once more, raising near term possibilities for drilling around TEN and further out plans for gas and Kenya.
Tullow has hit financial goals and is looking to farm down its Kenyan operations, as it focuses further on its Ghanaian operations.
Tullow Oil and partners in Kenya have won more time to work out how to produce the South Lokichar oil.
The Covid-19 pandemic has increased the number of oil and gas assets being put up for sale globally past 12.5billion barrels in reserves, according to new analysis.
Tullow Oil has declared force majeure at its site in northern Kenya, putting plans to sanction the project this year in jeopardy.
Many new projects in Africa will be delayed as a result of the oil price drop, Rystad Energy has said.