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{
    "id": 1242367,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1242367/?format=api",
    "text_counter": 94,
    "type": "speech",
    "speaker_name": "Hon. Chirchir",
    "speaker_title": "The Cabinet Secretary for Energy and Petroleum",
    "speaker": {
        "id": 13110,
        "legal_name": "Zipporah Jepchirchir Kittony",
        "slug": "zipporah-jepchirchir-kittony"
    },
    "content": "Can you now see a situation where after recovering, we export the product for three years and then the product diminishes on what I call reaching the tippers and starts coming down? What do we do with the big investment of the US$3.5 billion? So, we will be bringing that comprehensive report to confirm the viability of every investment option including refineries, pipelines and all details that go into taking the product to the market. As I said, oil production is controlled by the Organization of the Petroleum Exporting Countries (OPEC). It has got international pricing. Even what we sold on the early oil project scheme was flax pricing. The only thing that was computed for was freight and premium. So, I will bring that report in due course. It has a timeline under the production- sharing contract which says that the report goes to Energy and Petroleum Authority (EPRA), our regulator for three months and then submit to my office. It should not take more than one month in my office. When it comes to the Parliament, it should not take more than one month for us to confirm whether it is economically viable to get the product to the market. Thus, going to the final investment decision within a year and building the infrastructure within three years to take the product to market. By way of answering Sen. Kisang’s Question, I have touched on Sen. (Dr.) Khalwale’s question. Thank you, also, for challenging me to succeed and I will work very hard to succeed. However, to the question of excitement, yes, there was excitement. There was hope. There is still hope. If you look at our neighbour who made discoveries three or four years earlier than Kenya, they have never gotten to market today. They have just done the final investment decision so that they can look for resources to build the pipeline which is going through to Dar-es-Salaam about 1800 kilometres. Those are huge investments. So, the fact that we made this discovery much later and we are where we are, I will urge this House and Kenyans at large to quickly go out of our way to support this project development and be conscious of the climate change issue. When I came to this House this morning, I did some extensive reading on environmental, social and governance challenges that are facing the world today due to climate change. Investors, even on Foreign Direct Investments (FDIs), are not putting their money where their policies on climate do not agree with the developers of some of these environmentally challenged projects such as development of coal and fossil fuel. Therefore, we need to bring this to closure because you are also aware that Kenya has signed to be 100 per cent green, particularly on power generation, by 2030. So, unless we embrace, support and run with this project to reach to the final investment decision and have the first oil within the next three years, more of the West and European part of the world may not be putting their money into this investment because of their policies on responsibilities on climate change. Therefore, I confirm that we have a timeline. We will work together to ensure that we quickly maintain the excitement and hope of using this natural resource to develop our country like the West has done for the last several years."
}