NAIROBI–France’s Total SA will acquire shares in three Kenyan oil blocks from AP Moeller-Maersk, the office of Kenya’s President Uhuru Kenyatta said in a statement on Tuesday.
“The Government has consented to a proposed acquisition of the issued and to-be-issued share capital of Maersk Oil Exploration International (Mogas Kenya) in respect of Blocks 10BA, 10BB and 13T,” the statement read in part.
The French giant bought the oil and gas unit of A.P. Moller-Maersk A/S in August 2017. The deal entailed takeover Maersk Oil significant northern Kenya upstream assets, solidifying its regional petroleum interests.
“Kenya is optimistic that the entry of Total into the Kenya Joint Venture will strengthen the financial resources and technical competence to the Joint Venture and this will go a long way in accelerating the development of the resources in these Blocks,” Presidential spokesperson Manoah Esipisu said.
Total further confirmed its commitment to the Lokichar to Lamu oil pipeline as the only evacuation route for Kenya’s crude from the Lokichar fields, Esipisu added.