Kenyans to buy Turkana oil blocks in Sh103bn IPO

Kenyan taxpayers will have a chance to buy back up to a 35 per cent stake in the two Turkana oil blocks with the bulk of the country’s reserves using the proceeds of a planned initial public offering of State-owned National Oil Corporation (NOCK) shares on the Nairobi and London stock exchanges.
The government is planning to raise up to $1 billion (Sh103 billion) from the dual listing expected in early 2019, with NOCK having advertised for a consultant to guide the deal.
Petroleum principal secretary Andrew Kamau told the Business Daily that the contract for the concession of oil blocks to existing operators has a clause allowing the government to exercise a back-in right, which essentially means buying back a percentage of the ownership before production kicks in.

Anything in this oil pipeline? This has a lot of potential. It will be better once the Government reduces it's control.

Last month, the government signed an agreement with Tullow to build an 865-kilometre pipeline linking the Turkana oil fields to Lamu port at a cost of Sh210 billion. The pipeline will enable the country to pump out about 100,000 barrels a day.

The 2022 election campaign has to be funded somehow...