Kenya has said it needs the oil price to be no lower than between $50 and $55 a barrel to exploit its reserves at a profitable level.
A government official made the comments as he said the country will begin small exports of crude for a pilot project next summer.
Principal Secretary at the State Department of Petroleum Andrew Kamau said the projects are not expected to generate profits.
Kenya has an estimated 750million barrels of recoverable reserves in onshore fields but lacks a pipeline to transport its crude from the northwest to an export terminal on the east coast.
The pilot project is expected to be used to gain “valuable information” about the market for its crude and the devlopment of some infrastructure.
Recommended for you
