Kenya Stikes Oil

President Kibaki, of Kenya, on Monday announced the discovery of oil in Turkana county, located in the country's arid north-western region. The President said successful drilling of the oil is still years away. Energy Minister Kiraitu Murungi added a sweetener to the "important announcement", explaining that Kenya's oil deposits could be bigger than Uganda's.

Kenyan Minister for Energy Kiraitu Murungi shows off a sample of crude oil discovered in Turkana county during a press conference at Nyayo House in Nairobi on March 26, 2012.

"This morning, I have been informed by the Minister for Energy that our country has made a major breakthrough in oil exploration. This weekend, Tullow Oil, which has been prospecting for oil in block 10 BB in Turkana County, discovered oil in Ngamia-1 well, at a depth of between 846 and 1041 metres. They established over 20 metres of what is technically referred to as OIL-PAY. To establish commercial viability of this oil, they have to drill multiple wells," said President Kibaki.

In more Kenya-Oil news, bloomsberg has a report that reads Kenya Says Four Exploratory Oil Wells to Be Drilled in 2012.

I am happy for Kenya and I say, go Kenya go!