Vanoil receives extension on Kenya PSC

摘要

VANOIL ENERGY HAS reported that the Kenyan Ministry of Energy has extended the deadlines within which Vanoil must satisfy the work programme obligations defined in its Production Sharing Contract (PSC). Previously, Vanoil was obligated to finish drilling its first well by 30 April 2013. Now, under the terms of the latest extension, Vanoil must only commence drilling its first well before 31 July 2013 and, with sufficient technical justification, Vanoil may place its first two wells anywhere within the boundaries of Block 3A and 3B to satisfy the work programme obligations within the Initial Exploration Period of its PSC.