Premier farms in to block 2B onshore Kenya
Premier has signed a farm-in for 55% of Taipan Resources licence interests in block 2B, onshore Kenya. The block lies in the Southern Anza Basin, a Cretaceous rift basin with proven source rock, and contains several prospects and leads. The Pearl prospect with an estimated gross prospective resource of 100mn barrels of oil will be targeted by the initial well. The remaining lead inventory is capable of delivering in excess of 500mn barrels gross, reports Premier.
Under the agreement, Premier will pay Lion Petroleum, a wholly-owned Kenyan-based subsidiary of Taipan, back costs of $1mn. It will also pay Taipan’s working interest share of the cost of drilling and testing the Pearl prospect and future costs on block 2B up to a cap of $13.275mn. Premier has the option to assume operatorship of any future development on the block.
News Item details
Journal title: Petroleum Review
Keywords: Exploration and production
Countries: Africa - Kenya - East Africa -
