Kenya’s first-ever discovery could generate billions
Republic of Congo Kenya has postponed the first ever licensing round to the fourth quarter of 2014, which, argues an analyst with GlobalData, could allow time for additional discoveries and field development, thus raising the profile for investment opportunities in its acreage.
A potentially unfavourable piece of legislation that is currently in the works is the source of the delay, according to GlobalData. The new energy bill is currently being modified to include royalties, gas-sharing terms and a windfall profits tax, and is likely to include new regulatory requirements, such as environmental and local content benchmarks.
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