Dominion has signed a Production Sharing Contract for Block L15 in the Lamu Basin offshore Kenya. The company will acquire operatorship and a 100% working interest in the PSC.
Dominion will begin the initial exploration phase of the PSC, and the company will reprocess existing 2D seismic data, carry out block wide G&G studies and receive a minimum of 61,776 acres (250 square kilometers) of 3D seismic data in the initial two-year exploration period. Following this initial two-year period, the company can enter the second two-year period by committing to drill one exploratory well.
Block L15 contains the Kofia-1 well, which was drilled by Union Oil in 1985, encountering good oil shows in the Palaeogene and Upper Cretaceous intervals.
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