Gulf Energy E&P BV has announced the acquisition of an onshore oil drilling rig valued at over Sh2 billion (approximately $15 million) for their Lokichar oil project in Kenya. The GW70 rig was obtained from Great Wall Drilling Company (GWDC) in the UAE under a long-term lease, and it is set to arrive in Kenya by the end of the coming month. This investment comes as Gulf Energy aims to commence oil production from the Lokichar site before the conclusion of the year, thereby marking a significant step in the country's oil exploration efforts.

Chairman Francis Njogu shared that Gulf Energy has established a contractual arrangement with GWDC for the delivery, commissioning, and operation of the rig in the South Lokichar Basin. A notable aspect of this agreement is its performance-based model, which also integrates skill transfer to local personnel, enhancing local capacity and expertise in the oil industry. Furthermore, a high-level delegation from both the Government of Kenya and Turkana County recently undertook a familiarization and inspection tour of the rig in the Abu Dhabi region, showcasing the importance of this project to local stakeholders and governance structures involved.

As the firm prepares for the rig's arrival and the subsequent operations, stakeholder engagement will be key to ensuring local communities benefit from the project. The anticipated oil production not only bolsters Kenya's oil ambitions but also asserts the region's potential for economic growth through resource development, which is crucial for the Turkana County and the nation's overall development strategy.