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Oil companies to take new concessions

Following the removal of the National Bank of Ethiopia’s directive that compels oil and gas companies to open a foreign bank account in Ethiopia international oil companies have shown interest to take new concessions.  

New AGE discovers gas reserve in Ogaden

The Ministry of Mines and Petroleum disclosed that the British energy firm New Age (African Global Energy Ltd) has discovered 1.6 Trillion Cubic Feet of natural gas reserve in the Ogaden basin, Somali Regional State.

Gas development project behind schedule

Ethiopia’s first natural gas development project in the Ogaden basin, Somali Regional State, is delayed due to various reasons including complex negotiations with the Djiboutian government on gas pipeline construction to the port of Djibouti.