Located in northwestern Kenya, the North-Central Gregory Rift forms the eastern arm of the East Africa Rift system. The basin covers over 100,000 km2 of mountainous land around and between lakes Turkana and Victoria. It extends into Ethiopia and territory disputed with South Sudan. The basin is an emerging exploration region, with eight discoveries made in the last four years. Tullow Oil's large Ngamia oil field find in 2012 opened the play and highlighted the basins potential; to date 665 million barrels of oil resources have been discovered in the South Lokichar sub-basin along a trend known as the Lokichar 'String of Pearls'. This level of prospectivity makes the basin attractive for explorers. At present most blocks in the basin are licensed, but there is potential for further farm-ins, and acreage will be opened up through partial relinquishments. Developments will ultimately be dependent upon construction of a major new export pipeline.
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Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.
Explorers and advisors can use this report to understand the history and potential value of this basin.
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Asset report | Jul 2016
Kenya North-Central Gregory Rift exploration basin
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