FAR Operations in Kenya

FAR has holdings in two of Kenya's exploration areas. It has a 60 percent share in Block L6 (in a joint venture with Pancontinental), and a 30 percent share in Block L9 (in a joint venture with Ophir Energy and Avana Petroleum). Both blocks are located in the Lamu Basin. Block L6 has both offshore and onshore potential, and seismic data obtained by FAR in 2012 showed prospective resources of more than 3.7 billion barrels of oil. FAR also acquired a permit for Block L9 in 2011. A first exploration well is due to be drilled in Block 9 in 2014, as part of a joint venture with Ophir Energy. The seismic data has shown many promising leads, with a potential resource volume of more than 300 million barrels of oil.

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