Australia's Pancontinental, Partner to Begin Sesmic Survey in Kenya

Australia’s Pancontinental Oil and Gas along with its partner FAR Ltd will begin Kifaru 3D offshore seismic survey in its L6 exploration licence area in Kenya. Pancontinental has a 40% interest in the L6 licence, with the remaining 60% held by current operator FAR.

The exercise will cover about 680 sq km at a budgeted cost of $13.67 Million (Pancontinental’s share $5.5 Million) and it is anticipated to finish in early July 2012.

Licence area L6 off the Kenyan coast lies in the Lamu Basin and within the Tana River delta, north of recent world-scale natural gas discoveries off the coasts of Mozambique and Tanzania.

The East African margin has become a focus for oil and gas exploration with south of Kenya, offshore Tanzania and Mozambique, encountering world-class gas discoveries.