Five International Companies Engage in Petroleum Exploration and DevelopmentThe Ethiopian Herald (Addis Ababa)November 10, 2006
By ENA Addis Ababa
Ministry of Mines and Energy said that five international companies are engaged in petroleum exploration and development activities in different parts of the country.
Mines and Energy Minister, Alemayehu Tegenu told ENA that the number of companies engaged in the sector is steadily increasing.
The Minister said that the on-going activities have proved promising in improving the contribution of the sector to the growth of the national economy.
Joint geological and geophysical research studies have been launched in South Ethiopia while the Pexco, one of the international companies operating in the country, is engaged in petroleum exploration and development activities in the Ogaden basin, he said.
He said the South West Energy Company and the Afar Explorer, a US-based company, are also engaged in petroleum exploration and mining activities in Dagahabur locality of the Ogaden area and the Northern Afar respectively.
Similarly, he said, an agreement has been reached recently between the ministry and Lundin East Africa BV, a Netherlands-based company, for the exploration and development of petroleum in the Ogaden locality of Somali State.
According to the Minister, negotiations are in progress between the Ethiopian government and Petronas, another international company, for the development of Kalub and Hilala natural gas deposits.
Meanwhile, the minister announced the readiness of his Ministry to encourage and also provide the necessary assistance to companies willing to operate in Ethiopia.Click HERE to go to the source of this article.