Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Premier oil exits onshore block 2B in Kenya

    Premier oil exits onshore block 2B in Kenya

    May 31, 2015
    Share
    Facebook Twitter LinkedIn WhatsApp
    Block 2B, Kenya.
    Block 2B, Kenya.

    31 May 2015, Sweetcrude, London – UK independent Premier Oil Plc has exercised its right to exit a joint venture that is seeking to develop Block 2B, onshore Kenya, according to partners involved in the project.

    Tower Resources and Lion Petroleum, a subsidiary of Taipan Resources and the block’s operator, said that Premier’s exit from the block is effective as of April 30.

    Premier Oil’s withdrawal from the joint venture will lead to a pro-rata adjustment in Lion’ and Tower’s working interests in Block 2B, with the former holding 66.66 percent and the remaining 33.34 percent held by the latter for the remaining six months of the current license phase.

    Kenya’s Ministry of Energy had earlier agreed to a six-month extension to the First Additional Exploration Period to Nov. 30 for the partners to complete the assessment of the remaining prospectivity of Block 2B.

    This extension was agreed to the ongoing legal action relating to a temporary injunction served upon Lion, Premier, and other named parties that had prevented operations over the majority of the block.

    “Tower has increased its interest in Block 2B at nil cost and the six month extension to the First Additional Exploration Period will provide joint venture partners the time necessary to finish a thorough assessment of the prospectivity on this large 2,107 square miles (5,458 square kilometers) block,” Tower CEO Graeme Thomson disclosed in the statement.

    Related News

    Russian energy, transport, finance companies among privatisation candidates, says finance ministry

    Kazakhstan’s oil and condensate daily output set to rise by 6% in June, ministry says

    Italy’s Eni eyes new unit to manage oil refineries, unions say

    E-book
    Resilience Exhibition

    Latest News

    Russian energy, transport, finance companies among privatisation candidates, says finance ministry

    June 21, 2025

    Kazakhstan’s oil and condensate daily output set to rise by 6% in June, ministry says

    June 21, 2025

    Italy’s Eni eyes new unit to manage oil refineries, unions say

    June 21, 2025

    Libya objects to Greek tender for hydrocarbon exploration off Crete

    June 21, 2025

    Russia’s Rosatom to explore construction of high-capacity nuclear plant in Uzbekistan

    June 21, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.