Tullow to know Kenyan assets soon

TULLOW Oil chief executive Aidan Heavey has said that the company should know the full potential of its early stage assets in Kenya — tipped to be its next big market — within 12 months.

Addressing the company’s annual Irish shareholders’ meeting in Dublin yesterday, Mr Heavey said Tullow’s operations in Kenya and Ethiopia “should replicate” the success already seen in Uganda.

However, while the asset area is roughly ten times the size of Tullow’s Ugandan assets, it is unclear whether they are of similar quality. Mr Heavey said that Kenya, along with South America, are potentially big future asset areas for Tullow.