Home | News    Thursday 30 March 2006

Ethiopia signs agreement with US firm on oil exploration

separation
increase
decrease
separation
separation

Mar 29, 2006 (ADDIS ABABA) — Ethiopian official said Wednesday that the Horn of Africa country has signed an agreement on oil exploration with a U.S. firm.

The agreement was signed Wednesday between Ethiopia’s Ministry of Mines and Energy and Afar Exploration. It will enable the latter explore oil in northeast Ethiopia’s Afar State.

Under the agreement, the U.S. firm is granted an oil exploration license that would enable it to prospect for crude oil in the sedimentary basin in Afar State. It is given an exploration area covering 21,187 sq km.

At a signing ceremony, Ethiopia’s Minister of Mines and Energy Alemayehu Tegenu said the Ethiopian government has paid due attention to the development of the energy sector.

Alemayehu said his ministry has designed a five-year strategic plan, adding that oil exploration and development are important elements of the strategic plan.

The ministry will provide the necessary assistance to the U.S. company to help it achieve its goal, he said.

Ethiopia granted five oil exploration licenses in the past two years. The giant Malaysian company, Petronas, took four licenses that enables it to prospect for oil in the Gambella and Ogaden basins. This week the ministry conferred a license to another Malaysian-based company, Pexco, which planned to search for oil in Ogaden.

The Afar basin is one of the five sedimentary basins in Ethiopia. Unlike Ogaden and Gambella the Afar basin is not yet explored.

Ethiopia is endowed with energy resources such as coal, oil and natural gas. Current natural gas reserves are estimated to be 24 million cubic meters.

(Xinhua/ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


South Sudan needs citizens’ participation in politics 2019-09-14 18:11:41 By Biong Deng Biong On the 4th December 2012, Isaiah Abraham was tragically gunned down in cold blood outside his residence in the South Sudan capital, Juba. The gunman was apparently ‘unknown’. (...)

Has Thomas Cirilo realize the importance of the enemy of my enemy is my friend? 2019-09-09 13:29:06 By Clement Maring Samuel When I read a tripartite agreement signed by Gen. Thomas Cirilo; Gen. Pagan Amum Okiech; and Gen. Paul Malong Awan who represented their parties of SSNDA; R-SPLM, and (...)

President Kiir: The Nelson Mandela of South Sudan? 2019-09-09 12:44:31 By Biong Deng Biong There is no reservation that Nelson Mandela was a great leader, but how does President Kiir fair? More often, we focus on the negative performance of leaders while forgetting (...)


MORE






Latest Press Releases


S. Korea supports UN communities building resilience project in Sudan’s Blue Nile 2019-09-09 09:26:41 UNDP Sudan September 5, 2019 (KHARTOUM) - An agreement was signed on 5th of September between the Korean Ambassador, His Excellency. Lee Ki-Seong and Dr. Selva Ramachandran, Resident (...)

Sudanese lawyers and Human rights defenders back calls for civil rule 2019-04-26 10:22:06 Press statement by 55 Sudanese lawyers and Human rights defenders on Sudan Sit-in and Peaceful Protest Khartoum -24/04/2019 We, the undersigned (55) Sudanese lawyers and human rights defenders, (...)

South Sudan’s Lafon youth condemn killings of civilians by Pari community 2019-04-03 21:54:29 Press Statement on the Fighting between Pari/ Pacidi and Lotuko/Lokiri on 24/3/2019 Release by The Lafon County Youth Union: We, the Lafon County Youth Union hereby condemn the atrocities and (...)


MORE

Copyright © 2003-2019 SudanTribune - All rights reserved.