Business Kenya gives its 46 newly discovered oil blocks to interested Nigerians

[jeff juwana]

Kenyan authority has presented its 46 newly-discovered oil blocks to interested Nigerians to hope for the development of the sector.
Diezani Alison-Madueke,the Minister of Petroleum Resources told reporters that the offer of the oil wells was part of the outcome Nigeria-Kenya Investment Forum held on Friday in Nairobi, the capital of Kenya.
Besides giving Nigerian investors the opportunity to acquire oil wells,Kenya also sought Nigerias help in formulating the right policies and frame-work to manage the sector..
He also added that they felt that its appropraite we exchange agreement in co-operation to hand over knowledge, capabilities and experience learnt due to our knowledge of oil exploration and production.
They are very enthusiastic that Nigerian operators in service sectors of the oil and gas industry look to Kenya as a growing frontier for investments in the oil and gas sector.
Olusegun Aganga, Minister of Trade said the economic forum between Nigeria and Kenya was a door opener to opportunities and recorded a huge success in terms of trade and economic development between both countries.
Alhaji Aliko Dangote, Nigerian business mogul and Forbes magazine richest black person in the world, , who led the Nigerian delegation and chaired the dialogue group, said a number of Nigerian investors would be willing to invest in the oil sector in Kenya.He also decided at the forum to invest $400 million in cement production in Kenya.
Also present in the forum were CEO of Forte Oil and Zenon Oil, Femi Otedola, Forbes magazine 26th richest African and Chairman of Honeywell Group, Oba Otudeko, prominent bankers and investors, Jim Ovia and Tony Elumelu, were in the Nigerian delegation to the Forum.

 

[Tannoy]

Synergy. Always something good, I think...knowledge and resources.

 

[phealip]

"...sought Nigeria's help in formulating the right policies and frame-work to manage the sector." I don't mean to underrate Nigeria's capabilities n experience in our exploration, but does the Kenyan government realize that Nigeria has not be able to enforce workable policies and frame-work to manage her own oil?

Are there no credible news reporters in Kenyan to expose the decadence and corruption that has ensconced Nigeria oil since it's discovery?

 

[Tannoy]

LOL. Monsieur @phealip, your argument is colored with much sentiment. They are asking for our help in formulating the right policies and framework right? We can help them brilliantly with that. We have been in the oil business for long enough to know the right policies.

As you said, the problem we have had is enforcing the policies. But here it needn't bother the inter-relationship between both countries. Nigeria formulates the policies, sells it to Kenya - and Kenya figures out how to enforce them. The fact that Nigeria's policies are unenforced doesn't make Nigeria any less of an authority on oil policy formulation any less than it makes a Professor of Mathematics any less knowledgeable because he collects bribes and sleeps with his female students.

 

[phealip]

True @The_HeadCase but I still insist that if Kenya are really serious about attaining international acclaim in oil exploration, they had better seek redress from a country with better policies.

I very much believe that if Nigeria's oil was not of a high quality, we may not have had this glory. If Kenya can guarantee same quality, then they can continue on the part they have so consciously embarked on

 

[Tannoy]

Please. Indulge me. What other country do you suggest has a better policy? I am faintly curious...

 

[phealip]

Your curiousity level does not instigate me to even indulge you. Bit you can look at the policies of world major oil producing nations

 

[jeff juwana]

It is important Kenya consults Nigeria on this. Aside being the largest producer of oil in the continent, Nigeria, being a neighbour to Kenya, is a global force in the oil sector. Again, we operate a similar market model, hence getting policies from Nigeria would only help them get into the oil business as easy as possible.

The so-called world major oil producing nations would negotiate for policies that would be favourable to them and their investors. Kenya and Africa, the ultimate losers, would lose out because funds would be repatriated to foreign Nations.

Yes, our policies may not be the best for Kenya, but Kenya as a country should be able to work with a number of oil producing countries to identify policies that would best suit its economy.