(Aug 03, 2011, ADDIS ABABA, (Reuters))--Ethiopia, which has seen a surge in requests for exploration rights, hopes to produce gas from its huge and under-developed reserves in its Somali Region in six years time, an official said on Wednesday.
Eleven companies have now been granted licences to develop 31 blocks out of 41 throughout the Horn of Africa nation, which believes its Ogaden basin in the south-eastern province may contain gas reserves of 4.7 trillion cubic feet of gas and major oil deposits.
Chinese firm PetroTrans signed a deal in July for concessions to Ethiopia's Calub and Hilala gas fields. The company will spend $4 billion to develop the reserve, according to the ministry of mines.
"Our effort is to develop the discovered resources as quickly as possible," Ketsela Tadesse, head of licensing at the Ministry of Mines, told Reuters in an interview. Read More from Reuters »
Eleven companies have now been granted licences to develop 31 blocks out of 41 throughout the Horn of Africa nation, which believes its Ogaden basin in the south-eastern province may contain gas reserves of 4.7 trillion cubic feet of gas and major oil deposits.
Chinese firm PetroTrans signed a deal in July for concessions to Ethiopia's Calub and Hilala gas fields. The company will spend $4 billion to develop the reserve, according to the ministry of mines.
"Our effort is to develop the discovered resources as quickly as possible," Ketsela Tadesse, head of licensing at the Ministry of Mines, told Reuters in an interview. Read More from Reuters »
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