Addis Fortune (Addis Ababa)

24 February 2013

Ethiopia: Africa Oil Signs Petroleum Exploration, Production Agreement

The Ministry of Mines (MoM) and Africa Oil Corporation, a Canadian oil gas company with assets in Kenya, Ethiopia and Mali, signed a Petroleum Production Sharing Agreement last week.

The exploration and production of oil covers 42,000 square kilometres in Omo Region and 50,000square kilometres in Ogaden Region.

Africa Oil entered into a contract for a joint study with the MoM to study the Rift Valley Block, which spans 42,519 square kilometres, at a cost of 125,000 dollars, on November, 2010.

Africa Oil currently has a total of four projects in Ethiopia, specifically in the Ogaden Basin, which contains two blocks in eastern Ethiopia. The company has Adigala Block, close to the border with Somalia and Djibouti and the Rift Valley block in South-western Ethiopia.

Three years ago, Africa Oil also agreed with Tullo Petroleum and White Nile Petroleum, both United Kingdom based companies, to explore the South Omo Valley block. Tullo Petroleum was the operator, by virtue of having the largest share.

Ads by Google

Copyright © 2013 Addis Fortune. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.