UK-based energy firm Delonex Energy has outlined plans to invest US$600mn in oil and gas projects in several African countries
A statement from the firm said, “One of the key investment areas that Delonex will focus on is the East Africa region, which runs from the Red Sea through Ethiopia, Kenya, Uganda, Tanzania and Mozambique.”
The main investor in this project will be a consortium led by Warburg Pincus, an American private equity company.
Delonex Energy chief executive Rahul Dhir said, “The central and eastern region of Africa has significant unexplored resources.”
Delonex Energy will join other companies already prospecting for oil and natural gas in East Africa, such as US group Anadarko Petroleum and Italy’s ENI, which have found huge natural gas reserves in Mozambique.
In the last few years, huge quantities of gas and oil have been discovered onshore in Kenya and Uganda as well as in offshore Tanzania and Mozambique, leading to a surge in investment in those countries.
