Cove Energy, Anadarko, DGA complete farm-out deal with Total in Kenya
Oil and gas firm Cove Energy and its partners Anadarko Kenya and Dynamic Global Advisers Kenya (DGA) have received all necessary permissions and approvals from the Government of Kenya for completion of a farm-out agreement with Total E&P Kenya.
Total E&P has agreed to acquire a 30% interest in five contiguous deepwater Kenyan blocks - L5, L7, L11A, L11B and L12.
Cove Energy has contributed 5%, Anadarko 20% and DGA 5% to the farm-out agreement, which has now closed.
The five offshore blocks, which cover an area of 30,682 sq km, are located over an extensive Kenya deepwater fairway from the Somalia border in the north to Tanzania in the south.
In addition to the farm-out agreement, Total has also agreed to buy DGA's entire interest in the five offshore Blocks.
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