The World Bank together with the French Development Agency have injected Sh7.1 billion for rehabilitation of water systems in the Coast region. Most of the region has been experiencing sanitation and water hitches for sometime due to worn out pipes some of which are said to have been in use for over fifty years now.
The money injected through the Coastal Water Services Board is part of the USD150 Million allocated for water and sanitation projects in the country by the bank. The funds will see the rehabilitation of Mzima,Marere and Baricho water sources and also the improvement of existing water and sanitation services in the region. The rehabilitation works include the 26KM Mzima pipeline which will have new steel pipes installed.
The ongoing works are said to be the cause of the recent water scarcity in Taita-Taveta, Kwale, Kilifi and Mombasa.However, rehabilitation of the main Mzima pipeline is almost complete. Upon completion of all works, water supply to the residents will increase from 58million litres to 80 million litres a day.
The World Bank has greatly supported the country’s Vision 2030 its largest commitment being to the infrastructure namely; energy, water and telecommunications. Other areas of investment include agriculture and rural development.
The bank has poured out billions of shillings in projects most of which are ongoing while some are still in processing stage. The funding is being done through the government of Kenya and different projects are receiving different amounts. The conditions also differ for the different projects.
Some of the projects being funded by the World Bank include; Kenya Informal Settlements Improvement Project, Natural Resource Management Project, Development Learning Centre ,Institutional Reform and Capacity Building Technical Assistance Project ,Kenya Electricity Expansion Project among others.
Wednesday, 29 February 2012
Oil prospects attracts multinationals in Kenya
Prospects that there could be oil in Kenya have seen investors troop in to put millions of dollars in drilling wells in search for “black gold”. Various multinationals have set camp in the country and some drilling has already begun in the northern and Southeastern parts of the country to try and establish oil deposits. The deepest well to be sunk in Kenya was done by Chinese cooperation CNOOC at just about KM.
Afren Plc-a London based independent oil & gas company, becomes the latest firm to join the list of foreign investors in search of oil in the country. Other firms that have already earned exploration rights include; Tullow Oil ,Apache, Africa Oil, CNOOC, Ophir, BG Group Plc (BG/),Dominion Petroleum Ltd. (DPL) among others.AfrenPlc plans to spend between sh4.1 and sh4.9 billion out of the a total sh41.4 billion set out to finance its global portfolio this year on exploration activities in Kenya. The company intends to drill one exploration well targeting the Coast by the second half of this year.
According to National Oil Company-which is mandated by the Government of Kenya to monitor the oil exploration process under the Ministry of Energy, the limitations of risk capital from government is the reason as to why some exploration activities such as well drilling have been left mostly to international oil companies. Smaller firms have however held onto oil blocks but due to lack of resources, not much exploration activity happened. On average, an exploratory well costs Sh7.8 billion to drill, while a production well costs many times this figure.
Shell BP is among the companies to begin oil exploration in the country where it discovered small but good qualities of oil in the Turkana region back in 1991.The areas predicted to have gas or oil in the Northern region are Isiolo and Marsabit where digging is ongoing. Lamu also houses some blocks which many investors are eying.
The country has however not struck any oil deposits yet in spite the mass investment by multinationals. It is however thought that since Kenya and Uganda-which has already discovered oil, have a similar geological structure it is possible that Kenya could be standing on oil. The two countries share the same oil-latent rocks.
“The statistic provides great cause of optimsm, and proves that there are working hydrocarbon systems in each of the key basins that are prospective for oil and gas”, pointed out Galib Virani of East African Exploration.
If these explorations bear fruit, Kenya will join list of neibouring countries that are already enjoying the free gift of nature, the “black gold”. Tanzania is already mining gas while Rwanda has discovered methane gas around Lake Kivu.
Afren Plc-a London based independent oil & gas company, becomes the latest firm to join the list of foreign investors in search of oil in the country. Other firms that have already earned exploration rights include; Tullow Oil ,Apache, Africa Oil, CNOOC, Ophir, BG Group Plc (BG/),Dominion Petroleum Ltd. (DPL) among others.AfrenPlc plans to spend between sh4.1 and sh4.9 billion out of the a total sh41.4 billion set out to finance its global portfolio this year on exploration activities in Kenya. The company intends to drill one exploration well targeting the Coast by the second half of this year.
According to National Oil Company-which is mandated by the Government of Kenya to monitor the oil exploration process under the Ministry of Energy, the limitations of risk capital from government is the reason as to why some exploration activities such as well drilling have been left mostly to international oil companies. Smaller firms have however held onto oil blocks but due to lack of resources, not much exploration activity happened. On average, an exploratory well costs Sh7.8 billion to drill, while a production well costs many times this figure.
Shell BP is among the companies to begin oil exploration in the country where it discovered small but good qualities of oil in the Turkana region back in 1991.The areas predicted to have gas or oil in the Northern region are Isiolo and Marsabit where digging is ongoing. Lamu also houses some blocks which many investors are eying.
The country has however not struck any oil deposits yet in spite the mass investment by multinationals. It is however thought that since Kenya and Uganda-which has already discovered oil, have a similar geological structure it is possible that Kenya could be standing on oil. The two countries share the same oil-latent rocks.
“The statistic provides great cause of optimsm, and proves that there are working hydrocarbon systems in each of the key basins that are prospective for oil and gas”, pointed out Galib Virani of East African Exploration.
If these explorations bear fruit, Kenya will join list of neibouring countries that are already enjoying the free gift of nature, the “black gold”. Tanzania is already mining gas while Rwanda has discovered methane gas around Lake Kivu.
Subscribe to:
Comments (Atom)