Estimate of Kenyan Oil Discovery Increases

Posted May 7th, 2012 at 1:35 pm (UTC-5)
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A British company says it has found more oil at an exploration well in northwestern Kenya.

In March, Tullow Oil said it had discovered a 20-meter oil deposit in Kenya's Turkana region. On Monday, the company said further drilling had increased that amount to more than 100 meters.

Tullow said it found the additional oil after drilling its Ngamia-1 well to a depth of one-and-one-half kilometers.

The recent discovery marked the first oil strike in Kenya.

Tullow Oil plans to drill two additional wells in the country this year and more next year.

The operations are part of a larger drilling campaign in Kenya and Ethiopia, spanning more than 100,000 square kilometers.

Tullow says it has discovered 1.1-billion barrels of oil in Uganda's Lake Albert Basin region and believes another 1.4-billion barrels are yet to be found.

Company officials have said major oil production in Uganda is still several years away.