NAIROBI Aug 23 Barclays Bank Kenya has
signed a $13 million financing deal with a unit of British oil
explorer Marriot Drilling for a rig for work in Kenya, which has
attracted attention after oil discoveries last year.
East Africa has become a hotbed of exploration after oil
discoveries in Kenya and Uganda and huge gas finds in Tanzania
and Mozambique. Kenya is in the process of determining the
commercial viability of its oil resources.
The bank, controlled by Barclays Plc, said on
Friday the financing deal would span five years.
In the past, companies exploring in Kenya have said their
work had been constrained by a shortage of drilling rigs.
Britain's Tullow Oil and its partner Africa Oil
have struck oil in the north western tip of the country.