DPL broadens investment portfolio

01/08/2011 - Kenya property & investment news Posted by Bob Brunskill
DPL broadens investment portfolio

Dominion Petroleum (DPL) has expanded its investment portfolio with the acquisition of Block L15 of the Lamu Basin, offshore Kenya.The oil and gas explorer was awarded the deepwater exploration licence by the government of the Kenyan government. Andrew Cochran, chief executive, commented: "We are delighted to add Block L15 to Dominion's East Africa deepwater exploration portfolio, one of the most sought after addresses in the exploration industry these days."Mr Cochran added: "Dominion's new award represents a material expansion of an already enviable deepwater East African portfolio."DPL, he explained, can now focus its attentions on the business of exploring these blocks, "realising their true value and embarking on substantive discussions with potential partners to establish plans for drilling".In other investment news, British American Investment Co, the Kenyan financial-services company, revealed that it expects revenue growth to accelerate in 2012 as it expands into Tanzania and South Sudan.The firm said it is "optimistic" operations will begin in at least one of the two nations in the first quarter of next year, businessweek.com has reported.