British oil firm to prospect oil in Ethiopia
Addis Ababa, The London based Tullow Oil, is expected to prospect oil in Ethiopia after a deal signed with the US SouthWest Energy which holds acreage in the Horn of Africa country.
According to the HIS International Oil Letter, a weekly news letter on oil industry, Tullow will explore oil in Ogaden basin.
SouthWest Energy’s blocks cover a total area of approximately 29,000 sq. km in the north-east part of the Ogaden Basin.
The Ethiopian government believes that the Ogaden basin, which covers 350,000 sq km, contains gas reserves of some 4 trillion cubic feet.
Officials point to neighboring countries such as Sudan and Yemen as evidence there could be major oil deposits under Ethiopia’s deserts.
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