Canadian oil and gas explorer enters into production sharing agreement with Kenya

04/08/2011 - Kenya property & investment news Posted by Bob Brunskill
Canadian oil and gas explorer enters into production sharing agreement with Kenya
Canadian oil and gas explorer Simba Energy has confirmed that it has entered a production sharing agreement with Kenya for an exploration block in the country's north-east, Bloomberg has reported.According to the British Columbia-based company, securing Block 2 corresponds with its ambition to pursue "underexplored and overlooked onshore basins in Africa".A statement on its website said that existing two-dimensional seismic data suggests the area has an "excellent potential for significant oil and gas discoveries".Simba Energy confirmed that it will begin "baseline" environmental studies before it starts to acquire new seismic data.The statement also revealed that the firm is searching for oil and gas in the West African nations of Liberia, Guinea, Mali and Ghana.In other business news, the Kenyan and Angolan governments recently signed the Bilateral Air Services Agreement, thereby paving way for Kenya Airways to expand its operations in the country.Kenya will, therefore, operate as many as three weekly frequencies to Angola, African Aviation has reported.