Addis Ababa, Tuesday, 19 July 2011 – A study conducted by the Ministry of Mines (MoM) revealed that natural gas and oil exploration in the country is on the rise in recent times. The study was presented during a symposium organized by the ministry at the conclusion of a three day exhibition that showcased Ethiopia’s mining development potentials. A 4,000 km seismic study and 100,000 Km airborne gravity and magnetic survey have been conducted so far, according to the study presented by Ketsela Tadesse (PhD), petroleum licensing and administration core process owner at MoM.nIncluding earlier natural gas discoveries in Kalub (2.7 trillion cubic feet (tcf)) and Hilala (1.3 tcf) in the eastern part of the country, a 0.766 tcf natural gas is discovered around Genale, the study revealed. Since 2005, the Mom has signed 11 petroleum profit sharing agreements and one joint survey agreement with eight international companies. Africa Oil Corporation, Calvalley petroleum Inc, South West Energy, Pexco Exploration, Tullow Oil, Epsilon Energy Ltd, Falcon Petroleum and Afar Exploration Company are engaged in exploration in the country. There are six sedimentary basins in Ethiopia, including the biggest and most explored basin of Ogaden (350,000 sqm), Abay basin (100,000 sqm), Southern Rift basin (30,000 sqm), Gambella basin (16,000 sqm), Mekele and Metema basins (10,000 sqm each). Several research papers on the country’s mining potential and investment opportunities were presented during the half day symposium held at Intercontinental Hotel, which was attended by Sinkinesh Ejigu, Minister of Mines.
According to the minister the research papers have been presented to the international audience on different occasion but it was the first time when presented to the national audience.(waltainfo.com)
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