Wed Sep 18 14:30:00 UTC 2024: ## Kenya’s Oil Dreams Back on Track, Commercial Exports Expected in 2028
**Nairobi, Kenya:** Kenya’s long-awaited entry into the oil exporting club is back on track, with commercial production expected in 2028, according to oil giant Tullow. The company has submitted a revised Field Development Plan (FDP) to the Energy and Petroleum Regulatory Authority (EPRA), following a six-month review period.
Tullow Kenya BV managing director Madhan Srinivasan told the Senate Energy Committee that the company is confident in its ability to realize Kenya’s oil dream, which has been stalled for a decade since initial exploration in 2012. “Tullow has a strong balance sheet and technical capability,” he stated.
The FDP outlines the development strategy for the oil fields discovered in 2012, and its approval is a crucial step towards securing a production license. The plan requires further approvals from the Ministry of Energy and Parliament.
Srinivasan emphasized that securing a strategic partner to share the financial burden and risk associated with the project is critical. “Once a strategic partnership is secured, the next challenge is to secure project financing,” he said.
Tullow has a robust financial position and generated over $1 billion in free cash flow between 2020-23. They expect to generate a further $200-300 million in 2024.
The company expects Kenya to extract and export a minimum of 120,000 barrels of crude oil to regional and global refineries upon commencement of commercial production.
Tullow is now the sole player in the project after Africa Oil Corporation and Total Energies withdrew last year, citing differing strategic objectives. Kenya has yet to approve their withdrawal.
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