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OIL Officially found in TURKANA
nifunze
#101 Posted : Monday, March 26, 2012 4:34:56 PM
Rank: New-farer


Joined: 7/4/2011
Posts: 28
Interesting read: How to avoid the oil curse.

One of the biggest problems any new government in Libya will face is something that doesn't seem like a problem: The massive amount of oil wealth the country possesses

Economists call it the natural-resource curse. Resource-rich countries often end up being ruled by dictators and autocrats. And the massive amount of money that floods into a country after oil discovery often has the perverse effect of putting existing industries out of business.

It's a curse that just a couple of countries have managed to avoid. The country that's managed it best, most people say, is Norway — a feat due in large part to the work of an Iraqi geologist named Farouk Al-Kasim.


In the 1960's Al-Kasim and his wife, who is Norwegian, decided to move to Norway. Their son had cerebral palsy and needed medical care.

Job-wise, Norway seemed like the worst place in the world for an oil guy.

"The National Geological Survey had already said that there is no hope in heaven of ever finding oil or gas," Al-Kasim says. He figured, worst case scenario, he'd drive a taxi.

But even though Norway's geologists had said there wasn't oil, companies were still looking for it. And so the Norwegian government hired Al-Kasim to review the reports the companies were sending in of their explorations.

What he saw was surprising.

"Remember, the country was saying there is no way there's oil out there," Al-Kasim recalls. "And here I am looking at data that says that they've already found it, four times over."

The finds still weren't big enough to justify a big commercial investment. But a year later, the Ekofisk oil field was discovered.

It was a massive find. Norway was officially rich with oil — and at risk of falling victim to the natural-resource curse.

Al-Kasim and a colleague wrote a series of proposals that found their way into a government plan that most people credit with saving Norway from the oil curse.

One radical solution aimed at preventing the oil money from destroying Norway's existing industries: Limit the amount of money the country made from oil in the short term. Don't drill everything at once.

"It was received with skepticism by the industry, who wanted Norway to go full-speed ahead," Al-Kasim said.

Despite the industry pushback, Norway handed out just a couple drilling permits a year.

In an even more stunning act of self-restraint, the Norwegians decided not to spend most of the oil money. Instead, they put it in an oil trust fund that's now worth hundreds of billions of dollars. The government only spends the interest that the fund generates.

Perhaps most shocking: Norwegian politicians have largely agreed to leave the principal untouched.

"The Norwegian miracle is that ... all the parties in parliament agreed on a policy, and they agreed among themselves that they will never use oil policy as a subject during elections," Al-Kasim says.

So, that's Norway's secret: At every step of the way, do the opposite of basic human nature.

Tell powerful oil companies, you can't get the oil right away. Tell taxpayers, you won't get the money from the oil right away. And tell campaigning politicians, you know that half a trillion dollars we have just sitting there in our oil fund? You're not allowed to talk about it.

Al-Kasim says he worries that Libya, like most countries, will find it difficult to emulate Norway's success. His main piece of advice for them: "For God's sake, don't go very quickly."

jamplu
#102 Posted : Monday, March 26, 2012 4:35:54 PM
Rank: Veteran


Joined: 3/25/2010
Posts: 939
Location: Nai
let the frenzy for mashamba begin in TURKANA.......LMAO
Kenyans!!
a4architect.com
#103 Posted : Monday, March 26, 2012 4:36:13 PM
Rank: Veteran


Joined: 1/4/2010
Posts: 1,668
Location: nairobi
..i would have expected BLOCK 10BA to be the 1st to yield oil since less than 50km from this border into S.Sudan, there are numerous oil and gold mines already functioning..
As Iron Sharpens Iron, So one Man Sharpens Another.
Gatheuzi
#104 Posted : Monday, March 26, 2012 4:37:51 PM
Rank: Veteran


Joined: 8/16/2009
Posts: 994
jamplu wrote:
let the frenzy for mashamba begin in TURKANA.......LMAO
Kenyans!!


Most of the land around the area will be acquired compulsorily by gava.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
Njung'e
#105 Posted : Monday, March 26, 2012 4:39:19 PM
Rank: Elder


Joined: 2/7/2007
Posts: 11,935
Location: Nairobi
And the Chings will go mad......HOW?
Nothing great was ever achieved without enthusiasm.
jamplu
#106 Posted : Monday, March 26, 2012 4:40:22 PM
Rank: Veteran


Joined: 3/25/2010
Posts: 939
Location: Nai
Gatheuzi wrote:
jamplu wrote:
let the frenzy for mashamba begin in TURKANA.......LMAO
Kenyans!!


Most of the land around the area will be acquired compulsorily by gava.



@Gatheuzi don't be shocked to see on flood of ads on dealfish and the newpapers of an acre going for 1M in turkana....Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
Kaigangio
#107 Posted : Monday, March 26, 2012 4:47:05 PM
Rank: Elder


Joined: 2/27/2007
Posts: 2,768
masukuma wrote:
jaribu wrote:
blessing or a curse? remember those diamonds in Congo and Sierra Leone? ever heard about the chaos in niger delta in nigeria? lets hope this is a blessing and not a curse... and that will only happen if politicians keep their dirty noses away from this matter.

this will not happen! kenya does not have the recipe for such chaos. who will fight? the Turkana?


kenya does have that recipe...remember the occupants here are largely Turkana,Samburu and Pokot (which make the area pretty volatile) and we already know how these guys have been butchering one another because of livestock, pastures and water...

recently there have been skirmishes between the pokot and the turkana due to disagreements on boundary...

oil discovery might complicate things if not well handled...
...besides, the presence of a safe alone does not signify that there is money inside...
YesuWangu
#108 Posted : Monday, March 26, 2012 4:48:12 PM
Rank: Elder


Joined: 8/11/2010
Posts: 1,588
Njung'e wrote:
YesuWangu wrote:

The 'drillers'....their name escapes me......can someone tell me who they are or where they are from?

Will they now 'go away'? d'oh! d'oh!


Tullow.....uuuuuhmmmmm!!....Yea.They should go away.At only a kilometre below ground,do we need to drill.....Weka vijana huko na jembes and let them dig the oil outsmile



LOL. Hii itakuwa kama kkv tena?
Njung'e
#109 Posted : Monday, March 26, 2012 4:53:43 PM
Rank: Elder


Joined: 2/7/2007
Posts: 11,935
Location: Nairobi
YesuWangu wrote:


LOL. Hii itakuwa kama kkv tena?


Yep!....KKV 2.....Kazi kwa vijana,pesa kwa wazeesmile

@Kaigangio,

The location is smack in the middle of Turkana region.No other tribe near em.
Nothing great was ever achieved without enthusiasm.
Ceinz
#110 Posted : Monday, March 26, 2012 4:53:54 PM
Rank: Veteran


Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Bachuma Gate, Ceinz, Guest (37), jamplu, Julie, ki-nyama, kinyash, kyt, limanika, mnandii, Mtublack, tajiri, wanyuru

Everymbondy I know in wazua is reanding this thread. I now understand why this oir brings confrict. Hi hi hi (laugh Kiraitu style.)
“small step for man”
a4architect.com
#111 Posted : Monday, March 26, 2012 5:06:03 PM
Rank: Veteran


Joined: 1/4/2010
Posts: 1,668
Location: nairobi
Njung'e wrote:
YesuWangu wrote:


LOL. Hii itakuwa kama kkv tena?


Yep!....KKV 2.....Kazi kwa vijana,pesa kwa wazeesmile

@Kaigangio,

The location is smack in the middle of Turkana region.No other tribe near em.


Samburu and Pokot also boarder this region..
As Iron Sharpens Iron, So one Man Sharpens Another.
Obi 1 Kanobi
#112 Posted : Monday, March 26, 2012 5:07:55 PM
Rank: Elder


Joined: 7/23/2008
Posts: 3,017
digitek1 wrote:
nostoppingthis wrote:
digitek1 wrote:
any one with info! Drool


One thing for sure, area MPs have bought enough land huko....i suspect hata R.Leaky yuko na shamba yake huko...

is the oil find in a fossil excavation zone? anyone with the coordinates of the oil well, major roads schools nearby etc


f*** fossils, we are drilling the damn oil
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
Thiong'o
#113 Posted : Monday, March 26, 2012 5:09:54 PM
Rank: Member


Joined: 10/14/2011
Posts: 661
Njung'e wrote:
YesuWangu wrote:

The 'drillers'....their name escapes me......can someone tell me who they are or where they are from?

Will they now 'go away'? d'oh! d'oh!


Tullow.....uuuuuhmmmmm!!....Yea.They should go away.At only a kilometre below ground,do we need to drill.....Weka vijana huko na jembes and let them dig the oil outsmile


Anglo-Irish firm Tullow Oil

“Tullow Oil, which also struck oil in neighboring Uganda, said the Kenyan find had exceeded their expectations.”

http://www.bbc.co.uk/news/world-africa-17513488
a4architect.com
#114 Posted : Monday, March 26, 2012 5:10:37 PM
Rank: Veteran


Joined: 1/4/2010
Posts: 1,668
Location: nairobi
BLOCK 10BB is bordered by Baragoi town at the bottom right.Baragoi is Samburu County.
As Iron Sharpens Iron, So one Man Sharpens Another.
mkeiyd
#115 Posted : Monday, March 26, 2012 5:14:48 PM
Rank: Veteran


Joined: 3/26/2012
Posts: 1,182
Applause Applause Applause
murchr
#116 Posted : Monday, March 26, 2012 5:15:07 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,979
a4architect.com wrote:
BLOCK 10BB is bordered by Baragoi town at the bottom right.Baragoi is Samburu County.


I expected something big when Tullow refused to partner with CNOOC. Now lets wait for Mbawa L8
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
a4architect.com
#117 Posted : Monday, March 26, 2012 5:20:10 PM
Rank: Veteran


Joined: 1/4/2010
Posts: 1,668
Location: nairobi
Anyone knows the owner of the other 50% i.e Africa Oil? Tullow own 50% interest while Africa Oil has the rest...
As Iron Sharpens Iron, So one Man Sharpens Another.
nostoppingthis
#118 Posted : Monday, March 26, 2012 5:21:41 PM
Rank: Chief


Joined: 8/24/2009
Posts: 5,909
Location: Nairobi
Kaigangio wrote:
masukuma wrote:
jaribu wrote:
blessing or a curse? remember those diamonds in Congo and Sierra Leone? ever heard about the chaos in niger delta in nigeria? lets hope this is a blessing and not a curse... and that will only happen if politicians keep their dirty noses away from this matter.

this will not happen! kenya does not have the recipe for such chaos. who will fight? the Turkana?


kenya does have that recipe...remember the occupants here are largely Turkana,Samburu and Pokot (which make the area pretty volatile) and we already know how these guys have been butchering one another because of livestock, pastures and water...

recently there have been skirmishes between the pokot and the turkana due to disagreements on boundary...

oil discovery might complicate things if not well handled...


The story will go like this,Turkana seeks to break away from Kenya, Kenya sends KDF,the western arms the Turkana as Ethopia secretly provides logistics,Foreign companies mine and export through Djibouti as we continue fighting the rebels!!! Pray Pray Pray
jamplu
#119 Posted : Monday, March 26, 2012 5:22:09 PM
Rank: Veteran


Joined: 3/25/2010
Posts: 939
Location: Nai
nostoppingthis
#120 Posted : Monday, March 26, 2012 5:23:32 PM
Rank: Chief


Joined: 8/24/2009
Posts: 5,909
Location: Nairobi
Let's shun tribalism.We are all Turkanas!
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