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Discussion Starter · #21 ·
Surprisingly amazed at the negative comments about this find when I was excited when I read the news. 10 billion barrels of Oil if confirmed is no joke, this will definitely speed up the development in Kenya with quick revenue which can be utilised for major public projects and investments. So regardless it's a win win situation for Kenya.

So people would rather have Kenya toil throughs years of underdevelopment so they could "develop" the right "way" instead of the Arabian style through natural resources, which is nothing wrong with that. At the end of the day, Kenyan government job is to improve the living standards of Kenya by any means possible. Just because they found a quick easy method for revenue doesn't mean they won't invest in their people as well, too much generalisations
Don’t be surprised! It is a case of “let me be negative because it is not my country syndrome’’. :lol:
 

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The conspirator
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Don’t be surprised! It is a case of “let me be negative because it is not my country syndrome’’. :lol:
They should so it the Moroccan way enough for self-sufficiency.
 

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lordangers
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Don’t be surprised! It is a case of “let me be negative because it is not my country syndrome’’. :lol:
What are you talking about? God some of you Kenyans, despite the good sense of humour just can't take a more balanced approach to your countries fortunes... and even if I am being negative so what? You seem to have already made up your mind on the outcome of this find and I hope it works but do grow up.
 

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Still Comin' Out Strong
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You say Arabian way, I say Nigerian way. Which one do you think Kenya is more closely associated with? I am not generalising Kenya with the rest of Africa or its neighbours, I wouldn't want to insult Kenya. But if you are going to be so naive as to think that leaders who let their country burn rathar then concede power for one term are honestly going to invest the oil wealth properly, then you are living in la-la land.
Why do you automatically assume the worst?:? If you've bothered to stay in touch with Kenyan media outlets there have been many who've brought to the spotlight concerns regarding potential improper usage of revenues from the oil since day one. Just because Nigerian leaders have siphoned away billions from oil over the decades doesn't mean every African nation with oil will have to deal with the issues as well. Not to say corruption won't be there because it surely will, but it can be minimized.

And yes there is a right way to economic growth Nomadic. Government officials will simply introduce unsustainiable/unproductive subsidies, stuff their pockets and forget where the real growth comes from. It took some countries a few decades of hard work to get where they are now without oil. Kenya is already at an advanced stage of industrialisation. It wont take a couple of decades, one at most to reach possibly eastern Europe. Oil and you can take yourself back to Liberian level.
Who is to say that the Kenyan government is going to forget about other industries? 10b is a lot, but not very much compared to Nigeria, and surely won't help create the mass employment/economic growth that the country needs. Besides, like you mentioned other industries are already well established, and yes they will continue to garner attention and flourish with or without oil.
 

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You say Arabian way, I say Nigerian way. Which one do you think Kenya is more closely associated with? I am not generalising Kenya with the rest of Africa or its neighbours, I wouldn't want to insult Kenya. But if you are going to be so naive as to think that leaders who let their country burn rathar then concede power for one term are honestly going to invest the oil wealth properly, then you are living in la-la land.

And yes there is a right way to economic growth Nomadic. Government officials will simply introduce unsustainiable/unproductive subsidies, stuff their pockets and forget where the real growth comes from. It took some countries a few decades of hard work to get where they are now without oil. Kenya is already at an advanced stage of industrialisation. It wont take a couple of decades, one at most to reach possibly eastern Europe. Oil and you can take yourself back to Liberian level.
So you are coming up with a speculation based on one event out of 50 years?

If you have been following the political developments in Kenya, you will realize that the country has changed a lot in terms of the governing and corruption issues.

I'm not sure about how Nigeria handles their revenues but I think Kenya is little bit different in that the non-oil economy is more matured compared to the stage in which Nigeria was in before the start of oil production. It's therefore a naive comparison.
 

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East Africa: More Oil Found in Kenya

Nairobi — Kenya could be on the brink of joining the league of endowed oil producers with the striking of further oil deposits in the remote Turkana County.

Just a few months after oil explorer Tullow announced a huge find of the precious commodity around Ngamia 1 in the county, its partner Africa Oil came out last week to announce that it has stumbled on a further 43 metres of potential oil in a different block in the same area.

The firm announced that though it had intended to drill to depths of 2700 metres, it had suspended the search as at 2300 metres since there were all indications of oil in the block. Its officials said the firm wills now contrite efforts on determining the commercial viability of the oil.

In March, Tullow announced it had discovered over 100 metres of oil throwing the East African country into celebration even before confirmation on the commercial viability of the find. This was after drilling only 1,000 metres of the intended 3,000.

According to Africa Oil CEO Keith Hill, the company is optimistic on the commercial viability of the find.
"We anticipate high quality oil from this find. All indications are that the standards are higher than what we have achieved in most countries," said Hill in a statement sent to media outlets in Kenya.

Most of Turkana is currently a beehive of activity as companies rush for a share of the oil fields that were once neglected and marginalized county.
"Testing equipment including downhole pumps is being mobilized and the intention is to test a number of the zones in the Upper and Lower Lokhone Sands in the near future to confirm the full potential of this discovery," read the statement in part.

In East Africa, Kenya now joins Uganda which has also announced huge oil deposits in areas around its border with the mineral concentrated DR Congo
 

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re-phrase that so I can know what on earth you are talking about.
He means sustainable development without natural resources and he makes a lot of sense.Personally,I would rather it stays underground for a few more years.
 

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life liver
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I still cant understand what to "so it" is. Never heard that phrase before, it's very confusing.

Nevertheless, I don't agree completely, it depends on how the money is used.
 

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Still Comin' Out Strong
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He means sustainable development without natural resources and he makes a lot of sense.Personally,I would rather it stays underground for a few more years.
Pumping won't begin immediately. It'll take a few years. I honestly don't expect any oil being pumped until 2015/2016 earliest, but I could be wrong.:dunno:
 

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He's right. If u are to be rational and critical (very rare on ssc), corruption will go crazy like angola or nigeria with all this oil. History speaks strongly.
 

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Discussion Starter · #32 ·
There is a syndrome on this website. Many people are infected and it is called “let me be negative because it is not my country syndrome’’.

The best these individuals have as an example are: Nigeria, Angola, Gabon..etc Yet they ignore the majority of countries like Morocco, Namibia, Botswana and the rest on our continent that have used their resources to better the lives of their people.

It is one thing to call for vigilance and prudence but another to claim unrivaled access to the future and write off a country in a full blown negativity. This mindset is symptomatic of what is wrong with the continent!

Kenyans are not blind to the risks and questions arising from this but we are vigilant and refuse to be cast into the basket cases of failure that some of you dwell in. You have to be in Kenya or at least to have a good understanding of the fundamental changes that our new constitution and our vision as a whole affords us.

We are not blind to the challenges at hand but please, Kenya is not Nigeria, Gabon or those countries that you swear by.
 

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Nonsense. The majority of ssa nations have squandered their resources, especially the oil producing ones. Start listing the oil producing nations in ssa which have managed their revenue wisely, starting with.....??m
 

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Discussion Starter · #34 ·
ERHC Energy To Explore Oil In Kenya

ENTURES AFRICA – American oil and gas company ERHC Energy Inc. has joined the race for Kenya’s oil prospects after signing a production sharing contract with the Kenyan Government on Block 11A in northwestern Kenya.

The Block is ERHC’s first exploration acreage in East Africa and further diversifies the company’s portfolio of oil and gas assets, which also includes deep-water interests in the Gulf of Guinea and onshore Blocks in Chad.

The 2.95 million acres block is situated on Kenya’s border with South Sudan to the north, Block 11B and Lake Turkana to the east and near Kenya’s border with Uganda to the west. The Block is in the vicinity of Block 10BB in which significant oil discoveries have recently been announced.

“We are building on past successes and leveraging ERHC’s unique advantages in Africa to dynamically grow our exploration acreages and build shareholder value,” said ERHC President and CEO Peter Ntephe in a release.

According to ERHC Energy, the proximity and in-trend relationship between the Lotikipi plain and the Abu Gabra Rift basins of southern Sudan suggest high oil and gas prospects.

Following the discovery of oil in Kenya early this year, exploration activities in the country have intensified with more foreign firms seeking rights to explore.

“Competition for exploration acreages in Kenya is currently high and we are delighted that ERHC has been awarded the rights to explore one of the highly prospective Blocks. We look forward to working closely with the Government and people of Kenya on a mutually beneficial exploration program.” said Ntephe.

East Africa is emerging as a hub for oil and gas exploration following the discovery of over 1 billion barrels of recoverable oil in Uganda’s Block 1 (EA1), the Ngamia-1 oil discovery in Kenya, which is estimated to be bigger than the Ugandan discovery, and large gas discoveries, including the recent Zafarani find, offshore Tanzania.

http://www.ventures-africa.com/2012/07/erhc-energy-to-explore-oil-in-kenya/
 

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You say Arabian way, I say Nigerian way.
For all the crap Nigeria gets they have used a large chunk of their oil revenues in Infrastructure and development. Yes, there is corruption but it does not eat up ALL the money. The two often overlooked issues with Nigeria are the large population compared to oil revenues. The second is the gigantic mistake they made to make oil and electricity subsidized. The country basically wastes its oil revenue to give it freely away to the people and corrupt businesses with no long term effect on boosting the economy. If Kenya avoids 2 out of 3 of these issues the sky is the limit.
 

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He's right. If u are to be rational and critical (very rare on ssc), corruption will go crazy like angola or nigeria with all this oil. History speaks strongly.
Come on popa,I am all for rationality and critism but your post was made in jest.

I would love rwanda and ethiopia to get some. Those countries have low corruption and you know the money would be spent on infrastructure.
 

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For all the crap Nigeria gets they have used a large chunk of their oil revenues in Infrastructure and development. Yes, there is corruption but it does not eat up ALL the money. The two often overlooked issues with Nigeria are the large population compared to oil revenues. The second is the gigantic mistake they made to make oil and electricity subsidized. The country basically wastes its oil revenue to give it freely away to the people and corrupt businesses with no long term effect on boosting the economy. If Kenya avoids 2 out of 3 of these issues the sky is the limit.
LOL. I love it. Its not so bad because not ALL the money is being stolen. :lol: such low standards. ONLY IN AFRICA!!
 

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Mutu ya Chuma.
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Where there is Oil, there is corruption, lots of it and no where its worst than SSA.

However: Kenya has already got a a strong economy which is not based on Oil/commodity. Thats the difference between it and Nigeria or Angola who have been building their infrastructures and economies thanks to Oil.

Oil is a blessing where they have strong institutions, its a nightmare where they have weak institutions.

Personally i see the Kenya economy benefiting from Oil money. despite that corruption will increase.
 

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okay, okay......, give us a break now!!! Why is everyone pointing accusing fingers at existing oil producers, and most especially Nigeria, saying "Nigeria this, Nigeria that, Angola this, Angola that"

Ok, on the 2011-2012, corruption Index, How better is Kenya [The African nation that supposedly does things right}.. How better do they fare, compared to Nigeria, Even though Kenya produces no drop of Oil, at the moment??
 
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