President Uhuru Kenyatta to flag-off US$11.6million crude oil shipment which will enable kenya enters the league of oil exporters.
Kenya President Uhuru Kenyatta will commission the flag off for the first shipment of crude oil from the port of Mombasa. The first shipment of crude oil which is worth US$11.6million (Ksh.1.2B) will also make Kenya enters the league of oil exporters.
According to reports by Tullow Oil CEO Paul McDade, the shipment will continue for the next 18-24 months. It will also be the first under EOPS (Early Oil Pilot Scheme). The shipment of crude oil contract was won by Chinese firm ChemChina UK Limited.
President Uhuru Kenyatta arrives at the Kipevu Oil Terminal, Port of Mombasa, to preside over the flag off ceremony of the first Kenyan crude oil shipment as well as receive the 3rd cohort of Seafarer recruits. | @HassanAliJoho @OilProjectKenya#FirstOfAKind pic.twitter.com/GwJPri28RY
— State House Kenya (@StateHouseKenya) August 26, 2019
However, the government in partnership with Tullow Oil and its joint venture partners were happy with the chinese firm. According to them, ChemChina UK Limited firm beat seven other bidders with includes international firms representing European and Asian refineries.
The joint statement also reads that “ChemChina UK LTd was selected following a competitive tender process. An invitation to bid was issued to prospective buyers on 26th July 2019.”
President Uhuru Kenyatta speech during the flagoff
Meanwhile, ChemChina UK Limited is expected to commences shipping out the crude out of Mombasa this week. As the sale completes the first leg of Kenya’s prospects in crude oil production.