First Oil Discovery in Kenya
Kenya's President Mwai Kibaki announced Monday that a significant amount of oil has been discovered in the country for the first time. According to the President, the find from the weekend at a site called Ngamia is “a major breakthrough,” and similar in size to valuable light crude previously discovered in Uganda.
Tullow Oil is carrying out the oil exploration in the area, claiming that 20 meters of net oil pay was discovered. It is also considered to be of a higher quality oil that will yield more gasoline and diesel per barrel compared to other finds in Africa.
"To make a good oil discovery in our first well is beyond our expectations and bodes well for the material program ahead of us," Tullow's exploration director, Angus McCoss, said in a statement. “...following this discovery the outlook for further success has been significantly improved," McCoss said, looking into other prospective sites.
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However, it could still be years until the oil discovery will make it to a production phase. Uganda's 2006 discovery is not expected to reach a full-scale production phase until 2016.
"I think Uganda provides a helpful parallel," Tullow spokesman George Cazenove told the Associated Press. "There's a lot more work to do before we talk about how we get this to production and how it would affect Kenya as a nation... It's a great result but must be seen in context. It's a long-term game for sure.”
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.