“CAMAC Energy plans to drill the first onshore exploration well on either L1B or L16 in 2015,” the company stated in trade update released from the United States on Thursday.
The firm added that exploration activities of frontier exploration Blocks L1B/L16 onshore, and Blocks L27/L28 offshore were ongoing in the Lamu Basin.
It is estimated that Lamu Basin, which is on the coast, could contain up to 3.7 billion barrels of oil.
An Environmental and Social Impact Assessment Study was completed in February 2014 on Blocks L1B/L16, and preparations are underway for a 2D seismic shoot to occur later this year.
“For offshore Blocks L27/L28, CAMAC Energy is currently participating in a multi-client 2D seismic data acquisition that will conclude this month, with final data delivery expected in June 2014. CAMAC Energy will then conduct a geological and geophysical study incorporating the newly acquired data,” read an update from the company.
CAMAC Energy is one of several companies that are exploring for oil and gas after discoveries in 2012.