CAMAC Energy Inc., Houston, said it has signed production sharing contracts on two newly created deepwater blocks off Kenya in addition to two Lamu basin land blocks previously awarded.
CAMAC will be operator with 90% interest in all four PSCs. The government has a 10% carried interest prior to designation of any commercial discovery. CAMAC expects an indigenous company to take a minority interest.
Deepwater blocks L27 and L28 cover a combined 21,170 sq km just east of deepwater blocks L11A and L11B operated by Anadarko Petroleum Corp. Land Block L1B is in the Lamu basin, and Block L16 is in the Lamu basin transition zone. L16 is bounded on the east by Block L8, operated by Apache Corp., and is just northwest of Block L9, operated by Ophir Energy PLC.
During the initial exploration phase under each contract, CAMAC will be conducting surveys, acquiring and interpreting 2D and 3D seismic, and identifying prospects for future drilling. The execution of the PSCs represents CAMAC Energy’s official entry into Kenya and the East African exploration frontier.
