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Originally published by The Standard Business
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February 21, 2026
6h ago

Gulf Energy secures oil rig ahead of Lokichar project kick-off

Gulf Energy secures oil rig ahead of Lokichar project kick-off

Gulf Energy, the firm that last year took over the Turkana oil project, says it has leased an oil rig from a Middle Eastern firm that will be used to drill oil wells in Lokichar...

✨ Key Highlights

Gulf Energy, the firm overseeing the Turkana oil project, has secured an oil rig for drilling in Lokichar with aims to start commercial oil production by the end of 2024. The rig, valued at over $15 million (Sh2.94 billion), is leased from a Middle Eastern firm and is expected to arrive in Kenya by June.

  • The GW70 rig is leased from Great Wall Drilling Company (GWDC) based in the UAE.
  • Chairman Francis Njogu stated that Gulf Energy aims to deliver "first oil" by December 1 this year.
  • The project is estimated to be worth $6 billion (Sh774 billion), with Kenya potentially earning between $1.05 billion and $2.9 billion over its lifespan.

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