Algeria announces discovery of ‘important’ gas deposit
The deposit is estimated to have between 100 and 340 billion cubic metres of gas condensate, the statement said.
The deposit is estimated to have between 100 and 340 billion cubic metres of gas condensate, the statement said.
The agreement comes as Rwanda looks to increase investment in the energy sector, including electric mobility with electric cars and motorcycles already becoming popular in Kigali.
The firm, which has spent more than $1 billion to prospect for oil and develop wells in Kenya, has seen its annual spending fall significantly over recent years as it continues to shift focus from exploration to production.
“This historic occasion now puts us on the path to achieving first oil in 2025 as agreed in April 2021,” said Minister of Energy and Mineral Development Ruth Nankabirwa.