Failure to strike gas opens door to new opportunities

Such a company will be allocated exploration blocks, be able to partner with others, and when oil or gas are discovered it can hold shares in the venture on behalf of Kenya.

Initially, the Finance ministry will have to allocate sufficient funds to the firm to enable it participate in exploration and development ventures.

The ministry will also need to expedite a review of upstream laws to ensure that they are in tandem with today’s realities and are able to attract capital, as well as provide a fair basis for Kenyans to share resource exploits.

The ministry should also develop skills of personnel in the upstream oil and gas sector needed by investors when they venture into our country.

Surplus skills can be made available to the wider region.

Local universities can be assisted to commence specialised upstream oil and gas courses that meet international standards, especially in areas of geophysics.

We should not be disappointed by the Isiolo debacle.

Recently, Information and Communication ministry permanent secretary Bitange Ndemo said that with future ICT development in Kenya the country does not need oil.

What Dr Ndemo meant was that Kenya should not lose sight of many other opportunities staring at the country.

Oil is just one of the many potential resources, and until we strike the black gold we need to focus on what we already have.

Wachira works with Petroleum Focus Consultants. wachira@petroleumfocus.com