Description

In 2013, IFC made a USD 60 million equity investment in Delonex Energy Limited to provide support for the acquisition, exploration and development of Delonex’s assets in their East and Central Africa portfolio, targeting oil and gas exploration led opportunities. In 2015, IFC made a USD 50 million equity investment in Africa Oil to support its oil and gas exploration and appraisal activities and general working capital requirements, primarily aimed at advancing the appraisal of the South Lokichar Basin in Kenya. Both Africa Oil and Delonex partnered with Tullow Oil to conduct exploration activities in Block 12A which encompasses 5 counties including Elgeyo Marakwet, Baringo, West Pokot, Turkana, and Samburu, in Kenya.