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Kenya plans $1 bln dual-listing of National Oil Corp by early 2019
November 29, 2017 / 11:47 AM / 12 days ago

Kenya plans $1 bln dual-listing of National Oil Corp by early 2019

NAIROBI, Nov 29 (Reuters) - Kenya plans to raise $1 billion by listing its National Oil Corporation at home and on the London Stock Exchange by early 2019, to buy a share of two oil blocks held by Tullow and its partners, a senior government official said on Wednesday.

“We need to raise money for our back-in rights,” Andrew Kamau, the principal secretary for petroleum at the Ministry of Energy, told Reuters.

The two blocks, 13T and 10BB, are in Turkana county in the far north of the country. They are owned by Tullow, Africa Oil and A.P. Moeller Maersk. (Reporting by Duncan Miriri; Editing by George Obulutsa and Louise Heavens)

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