"During the meeting, we will know the price
for Kenyan crude oil in the international
market," Kamau said.
He added that actual export will begin when oil
stored reaches 200,000 barrels capacity and that so
far 80,000 barrels of oil have been evacuated to
storage tanks at the port of Mombasa.
The east African nation discovered commercial
deposits in 2012 and currently an estimated 560
million barrels of recoverable oil have been
identified at the Lokichar Basin in northwest Kenya.
Kamau said that Kenya currently produces between
400 and 600 barrels of oil per day under early oil
"The aim of the oil exports under the early
oil pilot scheme is not to make a profit but to
test the logistics of transporting oil to the
market," he added.
He noted that at present between 90 and 100 oil
trucks are evacuating the oil to storage tanks in
the port of Mombasa awaiting for exports.
Kamau noted that beginning in April, oil
production will be ramped up to 1,000 barrels per
day and thereafter increased to 2,000 barrels per
day in May.
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