Cepsa adds to onshore Kenya gamble

摘要

Cepsa increased its exposure to the Kenyan onshore by completing a farm-in on a Tullow operated block. The Spanish firm, which took over operatorship of ERHC's Block 11A earlier this year, has now moved into Tullow's Block 12B by taking half of Swala Energy's 50% interest. Swala will have its past costs repaid and be free carried through the first two exploration wells up to a maximum of US $7.5m for each one.