UPSTREAM
2010 marked the 10th anniversary of Gasx Energy Management Board’s decision to approve the strategy providing for the formation of an exploration and production segment. Currently, Gasx Energy Upstream operates in four East Africa, Asia, Canada and South America and is a recognised operator in Canada.
OPERATIONS IN EAST AFRICA
2010 brought about major reshuffles on Gasx Upstream’s asset map. These were related to the acquisition of new licences as well as abandoning less promising ones. In 2010, Gasx Upstream acquired two licences from Kenya and negotiated entry into a joint operations agreement with National Oil Corporation of Kenya. Concerning four licence areas in the Anza Basin.
Currently, gas is produced in cooperation with National Oil Corporation of Kenya. As at the end of 2015, reserves held by the Gasx in National Oil Corporation of Kenya amounted to 8.2MMBOE. The potential offered by the newly acquired assets includes, apart from the production, exploration licenses.
The East Africa Business Delivery Team is responsible for realising value from the significant oil discoveries made in Kenya to date. The team is also focused on continued exploration activity across the Group’s extensive acreage position in Kenya.
OPERATION IN CANADA
In Canada, the Gasx Energy conducts production operations in the Alberta province, using horizontal drilling and hydraulic fracturing technologies. In 2015, 16 such operations were performed, with the average production rate in Q4 2015 at over 7.3 MBOE/day, including 45% of liquid hydrocarbons (crude oil and condensate).
