Africa Oil CEO Keith Hill commented, “We would like to thank the Government of Kenya for granting us this extension which will allow the partnership sufficient time to overcome challenges in the current low oil price and pandemic conditions. We strongly believe in the value of the Kenya development project and will be spending the next year on optimizing the project and removing all remaining obstacles to allow it to move forward. We see this project as a strong complement to our Nigeria production assets and our exploration portfolio successes.”
Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria; development assets in Kenya; and an exploration/appraisal portfolio in Africa and Guyana. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol “AOI”.