The Government has stepped up oil exploration though no deposits have yet been discovered.Former National Oil Corporation of Kenya (NOCK) Managing Director Mwendia Nyaga, however, said chances of finding oil were high and more explorers had shown interest. The State-owned corporation that distributes oil products also co-ordinates exploration.
"There are high prospects as we have received positive indicators from the wells drilled," said
"These indicators have attracted more explorers and in case of discovery, the process will be accelerated."
So far, 31 wells have been drilled and more than Sh1 billion spent in collecting data that would help in further exploration.
Exploration is concentrated in four regions that include the Coast, the basin between Lamu and Lake Turkana, Rift Valley block that extend from Kerio Valley to Magadi and the Mandera basin that covers northern Kenya.
Nyaga said the basins have been sub-dived into 36 exploration blocks where more than ten multinational companies have been licenced to explore seven.
Wanyagah praised the Government for creating the organisation and charging it with the responsibility of co-ordinating exploration. He said with the high oil prices in the global market, discovery of commercial oil deposits would be a boost to the economy.
"We urge you to keep updating Kenyans on exploration efforts especially now that oil prices have been escalating," said Wanyagah.
On oil prices, Nyaga said he shared in frustrations expressed by motorists who have not benefited from the prevailing low crude oil prices in the global market.
