July 19, 2019

Sh300bn Turkana oil deal to remain secret

Kenya has signed a deal with Turkana oil exploration firms that will see them source up to Sh300 billion ($3 billion) funding from international financiers, but Petroleum Secretary John Munyes says the agreement will be kept secret from taxpayers.

Petroleum Ministry bureaucrats cited official secrecy and commercial confidentiality while declining to disclose details of the agreement reached with three oil majors for development of the South Lokichar oil basin.

Mr Munyes said the Heads of Terms (HoT) agreement signed Tuesday with Tullow Oil and its joint partners — Total and Africa Oil — after 15 months of negotiations cover aspects such as cost recovery, fiscal review and tax incentives.

He, however, declined to share copies of the agreement with the media.

Article 35 of the Kenyan Constitution states that “every citizen has the right of access to information held by State … The State shall publish and publicize any important information affecting the nation.”

Comments

comments