Asian powerhouses to buy the Turkana Crude oil -

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HomeAboutTech & BusinessLIFESTYLEPhotography/FashionPOETRY Tech & Business Asian powerhouses to buy the Turkana Crude oil April 19, 2017

If you don’t have a shamba in Turkana, kindly rush and buy something from that place or marry someone from the region. The oil availability was announced sometime back and Kenyans were dared to buy land in Turkana. And I think it’s time we move to that place because China and India have emerged as the main buyers of the Turkana crude oil that Kenya plans to export under a test programme in June.

In January, Tullow discovered a chunk of oil in Turkana after drilling a well in the Lokichar basin. The well has a gross oil interval of 55 metres with 25 metres of net oil pay at a depth of 700 metres. According to the Standard, the overall oil column for the filed is considered to be 100 to 125 metres. The developer of the Turkana oilfields, has already pumped out and stored 60,000 barrels of crude in Lokichar in readiness for transportation to Mombasa.

Andrew Kamau, Petroleum principal secretary provides that the the first tankers will dock Mombasa port in June to pick the consignment transported from Turkana and its environs by road and stored at the Mariakani refinery tanks.

This is a big opportunity for Kenya since two Asian superpowers are coming in to boost the economy given the fact that the African countries that produce oil are better placed economically. For example, Sudan is involved with civil war between the north and south for many years but the oil sector is the country’s biggest economic activity and they produce close to 520,000 barrels of oil. Nigeria on the other end is the fifth highest exporter of oil in the world and the product has strengthened the country in many ways.

This is a list of countries that produce oil in Africa and the number of barrels produced.

South Africa – 191,000Gabon – 241,700The Republic of Congo – 274,400Equatorial Guinea – 346,000Sudan – 520,000Egypt – 680,500Libya – 1,600,000Angola – 1,840,000Algeria – 1,888,000Nigeria – 2,525,000

 

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