Canadian firm seals Kenya oil deal

Canada’s Simba Energy is eyeing “significant oil and gas discoveries” as it snaps up an exploration block in Kenya.

The Vancouver-based independent has been handed a production sharing contract for Block 2A in the north-east of the country, it revealed on Wednesday.

The contract, penned with Kenya’s Ministry of Energy, gives Simba access to a 7801-square kilometre area which touches on the Mandera and Anza basins.

“Block 2A also has excellent potential for significant oil and gas discoveries,” Simba wrote in a statement.

“The company will immediately begin re-interpretation of all available existing data, as well as initiate baseline environmental work, to support the design and planning of a new seismic acquisition programme.”
Despite news of the contract, the company’s share price sank over 3% in early trading in Toronto.

About the Author

  • Its really ooubivs that Jonathan has nothing to offer for the people of this Nation, I was wounder he was mad and turned deaf to the cry of the masses, this is heartless decision. He must know that this so called cabals in his cabinet are calling for anarchy, I mean total war! Badluck to Nigeria! U are disgraced to this continent, the most cursed President in the world! Uhmmmmmm! What a shame!