Friday, September 22

Tullow Oil in talks with Indian groups over Kenyan project

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Executives from Tullow Oil held talks with India’s ONGC Videsh Ltd in Nairobi this week as the London-based firm seeks a strategic investor for its onshore oil project in Kenya, the company said on Saturday.

A senior official at Kenya’s Ministry of Petroleum and Mines tweeted earlier this week that ministry officials had met the Indian High Commissioner to Kenya along with representatives of ONGC Videsh, the overseas investment arm of Oil and Natural Gas Corp, and Indian Oil Corporation Limited.

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“The meeting was positive and the parties agreed to hold further discussions in the coming weeks,” Africa-focused Tullow said in a tweet about the meeting, adding that the talks had been hosted by the ministry of petroleum and mines.

Africa-focused Tullow said earlier in July it was confident it could make substantial progress to find an investor for its onshore oil project in the East African country in the second half of the year. (Reporting by Rhea Binoy in Bengaluru Editing by Helen Popper)