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GDC Signs Contract for Drilling Of Wells in Baringo-Silali
Date: 2016-05-04
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Paka Drill Pad No.2 in Progress

Drill Pad No.2 in Progress

 

 

Hong Kong Off-Shore Oil Services Limited (HOOSL) and GDC have signed a contract for the drilling of 15-20 wells in the Baringo-Silali Block. The signing took place in a brief ceremony held on Wednesday April 6, 2016 at the Kawi GDC Boardroom, attended by the Ag. Managing Director& CEO Paul Ngugi and a delegation from the contractor. “This is a big day for us; it is a pleasure to have signed this contract after a long negotiation period” said a representative from the contractor. The Ag. MD & CEO, Paul Ngugi noted that the signing of the drilling contract opens a door for a very important partnership.

 

Drilling will commence once the water pipeline is completed. At present, infrastructural work is ongoing in the area. The drilling of the 15-20 wells is financed by KfW, a German government-owned development bank. KfW has given (Euros 80 Million or approximately. Ksh8 billion for geothermal development in the Baringo-Silali block. GDC is currently working towards addressing a few outstanding CPs (conditions precedent) to allow 

 

 

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