A National Oil station. [Photo/stanardmedia.co.ke]The Government is holding talks with the UK over possible listing of the National Oil Corporation (Noc) on the London Stock Exchange (LSE).
If NOC is listed, the corporation will get an opportunity to raise funds for financing emerging opportunities in the energy sector.Through the Ministry of Energy and Petroleum, the Government wants to use funding from World Bank to implement the Kenya Technical Assistance Project.
The aim of the project is to strengthen the capacity of managing the petroleum sector to create wealth.
On Tuesday, the ministry stated that it was looking for a consultant who would, among other things, help the oil marketer to list on the LSE. “It is intended part of the proceeds of this credit will be applied to eligible payments under contracts for the provision of consulting services of an advisor to coordinate work stream with LSE towards the public listing of Noc,” Noc said in a press release.
The consultant will be expected to review the signed memorandum of understanding between LSE and the Energy ministry and drive inter-working groups in the information sharing process in the strategic partnership.