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BusinessEthiopia to start extracting crude oil tomorrow

Ethiopia to start extracting crude oil tomorrow

Ethiopia is to start extracting the first ever crude oil deposit from Ethio-Somali Region as of tomorrow, The Reporter learnt.

It is to be recalled that back in March, 2018, Poly-GCL, a Chinese company engaged in oil and gas exploration and development project in the Ethio-Somali Regional State, has already discovered oil and natural gas deposits.

The amount of gas reserve discovered by Poly-GCL is estimated to be 6 to 8 Trillion Cubic Feet.

Poly-GCL which signed petroleum development agreement with then Ministry of Mines to the Calub and Hilala gas fields in in Ogaden basin is set to start extraction of the crude oil deposits as of tomorrow.

The crude oil deposit is scheduled to be transported to Addis Ababa and other parts of the country where it will be distributed to cement factories as of tomorrow.

Officials, from both the federal and Ethio-Somali region will attend the inaugural ceremony which will be held on June 28, 2018. The delegation of official including Meles Alemu, Minister of Mines, Petroleum & Natural Gas will arrive in Ogaden.

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