Kenya: Kenya's Gulf Energy Affirms Its Commitment to Invest U.S.$ 6bn and Maintain World-Class Standards in the Turkana Oil Production Journey
Gulf Energy E&P BV has committed to investing $6 billion in Turkana County's oil production while adhering to international best practices.
Gulf Energy E&P BV, a petroleum exploration and production company in Kenya, has announced its commitment to invest nearly $6 billion in the oil production project in Turkana County. The announcement was made during a Joint Parliamentary Committee meeting on Energy, where Chairman Francis Njogu emphasized the importance of maintaining world-class standards in the production of crude oil. This investment is highlighted as the largest private-sector investment in Kenya's upstream petroleum sector, with a goal to commence oil production by December 1 of this year.
During the meeting, various members of the National Assembly and Senate expressed their support for the project while focusing on ensuring that public participation is prioritized in the field development plan's ratification process. The joint session was chaired by key leaders including David Gikaria and Senator William Kisang, who underscored the significance of fostering transparency and accountability in the project execution, as it is expected to contribute significantly to Kenya's economy and energy sector.
The commitment from Gulf Energy not only aims at enhancing Kenya's domestic oil production capabilities but also sets a precedent for future investments in the sector. By promising to adhere to international best practices, Gulf Energy may influence the overall standards within the Kenyan oil industry, paving the way for sustainable practices that could benefit local communities and the environment in the long term.