London — Africa-focused oil and gas producer Tullow Oil swung back into profit in 2017 after three years in the red, and outlined plans to begin production in Kenya by as early as 2021. The London-listed company is targeting East Africa — Uganda and particularly Kenya — as its next major frontier after developing two large fields in Ghana earlier this decade. The recovery in oil prices to over $60 a barrel by the end of 2017, as well as higher production from its flagship West African fields, allowed Tullow to boost revenue and sharply reduce debt. That, in turn, helped it to turn its focus to new projects and exploration for new fields around the world. Tullow shares were up 0.8% on Wednesday morning, compared with a 0.9% rise in the sector index. Tullow, which entered Kenya in 2010 and has more than 48,000km² of land in the country, said after appraisal drilling and well tests that it estimated the land-locked South Lokichar basin contained 560-million barrels in so-called 2C prov...
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