Pancontinental Oil and Gas NL (Australia) has reached agreement with the government of Kenya for the award of three large, prospective, shallow water, onshore/offshore blocks. The agreement, in conjunction with Afrex Ltd, covers blocks L6, L8 and L9 with a total area of 21,400 square kilometres. They represent the majority of Kenya’s near-shore territorial waters, immediately north of its main port of Mombassa. The Production Sharing Contracts which will be held by Pancontinental (40%) and Afrex (60%), will grant an exclusive right to the companies to explore the area. The venturers have agreed to undertake an initial work programme, consisting of seismic reprocessing and interpretation, to further evaluate a number of large prospects and leads recognised during earlier investigative work. Pancontinental said strata appear to have all the components necessary to host significant hydrocarbon discoveries, similar to the major offshore Songa-Songa gas field discovery in neighbouring Tanzania.
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