British oil explorer Tullow has written off $17.9 million (Sh2.41 billion) worth of its Kenyan assets on the uncertainty over their sale to a strategic investor and commercial exploitation of the Turkana oil deposits.
Tullow, whose field development plan (FDP) for the Lokichar project is under evaluation by the government, said that the book value of its Kenya holdings was revised downwards from $260.1 million (Sh35 billion) in December 2022 to $242.2 million (Sh32.6 billion) at the end of 2023.
