We are JV partners, alongside Tullow Oil (the operator) and Total in the South Lokichar Development in Kenya. There have been a number of challenges in the development during 2020 related to the COVID-19 pandemic, and resultant restrictions and decline in oil prices which have delayed progress. The Government of Kenya has agreed an extension to the exploration licence such that a completed Field Development Plan is submitted by the end of 2021.
Tullow Oil has committed to reducing its carbon emissions, supporting the Paris Agreement in targeting net zero in the next 30-50 years.
An ESIA to meet Kenyan regulatory requirements is being prepared and further activities will be undertaken to meet the requirements of the IFC Performance Standards on Social and Environmental Sustainability. Land access for the project is being led by the Kenyan Government under statutory provisions and supplemental activities will be undertaken by the JV to meet international good practice.
During the year, our net social investment expenditure (both our 25% JV contribution and Africa Oil Kenya direct spend) was $55,689.