Following the Nigeria-Kenya Investment Forum held on Friday in Kenya, the Minister of Petroleum Resources Diezani Alison-Madueke, has said Kenya offered interested Nigerians its 46 newly-discovered oil blocks for development.
The Nigerian Minister, who disclosed this while addressing reporters at the weekend in Nairobi, said Kenya also sought Nigeria’s assistance in the formulation of right policies and framework to manage the sector.
Her words: “It is well-known that Kenya recently discovered hydro-carbon reserves and is keen to move aggressively in terms of exploration activities.
“The Kenyans feel that as a sister African country, Nigeria, having many years of oil exploration and production experience, it only makes sense that we exchange agreement in cooperation to hand over knowledge, capabilities and experience learnt.
“They seek the templates we have formulated, including policies, processes and a sort of templates that form the Petroleum Industry Bill, among others.”
“We also looked at the areas surrounding Nigeria’s investments possibilities where we think Nigerian businessmen and women could come into the oil and gas sector in Kenya.
“They are very keen that Nigerian operators in the upstream, midstream and downstream service sectors of the oil and gas industry look to Kenya as a burgeoning frontier for investments in the oil and gas sector.
“They are also very keen that we support them in setting up the right framework, policies and processes and technology to help them drive the exploration activities.”
Among the seven Memoranda of Understanding and Bilateral Agreements signed by countries are oil and gas.
The Nigerian delegation to the forum, included the CEO of Forte Oil and Zenon Oil, Mr. Femi Otedola, Chairman of Honeywell Group, Oba Otudeko, prominent bankers and investors, Jim Ovia and Tony Elumelu.