Nairobi , Kenya ( CNN ) -- 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 . British-based Tullow Oil said it established more than 20 meters ( 65 feet ) of net oil pay , which refers to the depth of the oil reservoir . `` 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 . '' Read more : Ghana 's oil discovery : blessing or curse ? The company said it plans to drill deeper and drill multiple other wells to seek more oil . Tullow said it discovered the oil well in Turkana County , in the northwestern part of the country near Uganda , where the company is already a major player in the country 's oil fields . Kenya is the second country , after Uganda , to have discovered oil in East Africa . Richard Leakey , a noted paleontologist and environmentalist , told CNN there could be significant benefits from the oil find . `` I have always thought there was oil there and I have encouraged the search for oil for the past 40 years because of our geological surveys , '' said Leakey , who has been working in the Turkana region for four decades . `` In the end , I believe there will be a significant find . '' See also : Concerns over South Africa fracking plans . Leakey says will take five to 10 years for the oil find to benefit Kenyans . `` The hope is that Kenya wo n't squander the money before it has made anything , '' he said . Kenya must now safeguard against oil spills and environmental pollution , he said , and make sure local people benefit . Tullow has more than 90 production and exploration licenses in 22 countries in Africa , Europe , South America and Asia . National Oil Corp. of Kenya has been directing the search of oil in the country since its began operating in 1984 , according to its website .
Kenya 's president calls it a 'major breakthrough ' British-based Tullow Oil said the find is beyond expectations . Kenya is the second country in East Africa to have discovered oil .