The Kenyan Oil Discovery: Is A Big Payday In The Offing?
Oil production is nothing new to Africa. Indeed, oil fields dot the continent from one coast to the other. So there was never any suspense about whether oil would be found in Kenya, the country with the largest gross domestic product in East Africa: The only questions were when, where, and exactly how much.
At least one of those questions is finally answered. On March 26, London-based Tullow Oil PLC announced it had discovered oil in Kenya, the first such find for any energy company, when it drilled an initial exploratory well in the northern Turkana region.