This follows Erin Energy completion of the required work program for the Initial Exploration Period of the blocks earlier this year where it announced it had exercised its right, in accordance with the provisions of the Production Sharing Contracts, to apply for the FAEP and move to the next phase of exploration.

 

According to Erin Energy Chairman Kase Lawal the two year extension will allow the company to continue with its exploration activities.

 

“We are very pleased to begin the next phase of exploration in Kenya. Our team is greatly encouraged by the results of our exploration efforts thus far, and excited by the significant hydrocarbon potential we see on the blocks,” said Kase Lawal, Chairman and Chief Executive Officer.

 

Erin Energy formerly CAMAC had earlier submitted the required applications to enter the First Additional Exploration Period (FAEP) of both onshore blocks L1B and L16 after licenses on both blocks expired on June 8th 2015.

 

“The FAEP of blocks L1B and L16 is effective as of July 9, 2015 for two years. The minimum work program for each block includes the acquisition, processing, and interpretation of 300 square kilometers of 3D seismic data; and the drilling of one exploration well.

 

Following the approval of the request by the government through the Ministry of Energy and Petroleum the company is be expected to relinquish 30 percent of their former acreage to focus on more prospective zones.

 

Source : OIL NEWS KENYA