Oil discovered in Kenya

Source : CNN - 

Nairobi, Kenya - Kenya has finally struck oil after decades of exploration, the country's president announced Monday.

President Mwai Kibaki called the discovery a "major breakthrough," though it will take more than three years before the country can become an oil producer.

"This is the first time Kenya has made such a discovery and it is very good news for our country," Kibaki said at a state function in Nairobi.

"This is an excellent start to our major exploration campaign in the East African rift basins of Kenya and Ethiopia," the company's exploration director, Angus McCoss, said in a written statement. "To make a good oil discovery in our first well is beyond our expectations and bodes well for the material program ahead of us."

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