Tullow Oil is back into profit in 2017 after three years of loss making, allowing the Africa-focused oil and gas company to begin commercial production in Kenya by as early as 2021.
In a statement Tullow Oil said that they are now in strong position “to reset” their portfolio and expand the business through exploration adding that East Africa will become a key frontier for the group, notably a significant prospect in Kenya.
The oil and gas exploration firm has developed two large fields in Ghana earlier this decade.
Tullow Oil says it has so far spent 180 billion shillings in its Kenyan operations and expects to spend 110 billion shillings on constructing a heated crude oil pipeline between Lokichar and Lamu.
The government had initially planned to commence transportation of crude oil from Lokichar to Mombasa by road under the Early Oil Pilot Scheme in June last year but it was called off owing to logistical challenges.