Simba Energy to Perform Oil Exploration in Kenya

Simba energy, an oil exploration company based in Canada, has established a base of operations in Kenya following its recent seismic tests on block 2A located in Mandera, showing signs of major hydrocarbon deposits.

Simba Energy, listed on Canada’s TSX venture exchange and Frankfurt’s stock exchange, has made an announcement that it will pursue additional oil investment in Kenya under a full product sharing contract for exploration block 2A.

The block overlaps Mandera Basin’s southern edge and its southwest corner stretches to the Anza Basin.

According to chief technical officer Mr. James Dick, the company wants to locate a good target for drilling. The firm is working on three huge prospects in the assigned area. Moreover, the chief technical officer is hoping that they can begin oil drilling in the first well by 2013. The oil exploration company will meet the officials of the government in the coming month to talk about its program.

The operations’ managing director of Simba Energy said that the firm has been in Kenya for two and a half years prior to its acquisition of the first block. In a press briefing during the recent opening of its office in Nairobi, the director said that initial results appear very promising. The company believes that the estimated deposits of oil contained in the block are around a billion barrels.

The latest gas and oil discoveries have attracted plenty of oil exploration activities in Kenya. But Simba Energy said that it isn’t concentrating on Tanzania or Uganda, which both contain resources as well.

According to the director, Uganda already has plenty of huge companies there, and Simba Energy is still a small firm. He further said that there are also plenty of on-going activities in Tanzania.