Gulf Energy Ltd is on track to deliver its first oil from the South Lokichar Basin by December 1, 2026, after securing a Sh1.94 billion (USD 15 million) onshore drilling rig.

• The 1,500-horsepower drilling rig was acquired from Great Wall Drilling Company under a long-term lease.
• Kenyan officials visited the rig in Abu Dhabi for inspection, signifying a crucial step towards unlocking the basin's oil wealth.
• The project faces discussions regarding proposed revisions to cost recovery terms, with arguments for alignment with international best practices and concerns about potential state exposure to opacity and inflated costs.