Anadarko Petroleum, the Texas-based independent oil and natural gas producer, is among three companies that will carry out seismic surveys in Kenya this year with the hope of discovering more oil in the African nation. U.K.-based Tullow Oil and Kenya's state-run National Oil Corp. of Kenya are also expected to perform seismic studies.
Anadarko (APC) and Tullow each currently own five exploration blocks in Kenya. East Africa's biggest economy has 36 onshore and offshore oil blocks, 22 of which were awarded to 10 companies for exploration, according to Bloomberg News. Anadarko and Tullow are also partners in Ghana.
Africa, believed by some experts to be one of the last frontiers in the world where fresh oil deposits can be found, is a region Anadarko is counting on to boost production and profits in the coming years.
In addition to Kenya, Anadarko is also active in the African countries of Algeria, Ivory Coast, Ghana, Mozambique and Sierra Leone. In early 2010, the company said it made a major natural gas discovery off the coast of Mozambique, a find believed to be the first major discover off the coast of East Africa.