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Ethiopia to begin extracting crude oil in Ogaden region

Ethiopia to begin extracting crude oil in Ogaden region

Ethiopia

<p>Ethiopia will begin extracting crude oil on a test basis from reserves in the country’s southeast this week, state-affiliated media and the prime minister’s office said on Wednesday.</p> <p>Fitsum Arega, chief of staff in Prime Minister Abiy Ahmed’s office, said on Twitter that Abiy had met with officials from Poly-<span class="caps">GCL</span> Petroleum Investment Limited to “officially kick-start crude oil production test in Ogaden Region”.</p> <p>“The company has discovered that there is a prospect of commercial quantities of crude oil in the region,” Fitsum wrote.</p> <blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">HE PM Dr Abiy Ahmed met today with the representatives of Poly-<span class="caps">GCL</span> Petroleum Investment Limited to officially kick start crude oil production test in Ogaden Region. The company has discovered that there is a prospect of commercial quantities of crude oil in the region. <a href="https://twitter.com/hashtag/Ethiopia?src=hash&ref_src=twsrc%5Etfw">#Ethiopia</a>. <a href="https://t.co/CbDVp4Aopc">pic.twitter.com/CbDVp4Aopc</a></p>— Fitsum Arega (@fitsumaregaa) <a href="https://twitter.com/fitsumaregaa/status/1011981862032564230?ref_src=twsrc%5Etfw">June 27, 2018</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <p>The firm is a joint venture of state-owned China <span class="caps">POLY</span> Group Corporation and Hong Kong-based Golden Concord Group.</p> <p>The state-affiliated Fana media quoted Abiy as saying 450 barrels would be produced on Thursday on a trial basis.</p> <p>The prime minister added that full scale production of crude oil in the future, would help the state alleviate unemployment and the prevailing <a href="http://www.africanews.com/2018/06/16/uae-to-give-ethiopia-3-billion-to-ease-foreign-currency-shortage/"target="_blank">foreign currency shortage.</a></p> <p>Ethiopia also projects to earn up to 8 billion US dollars annually once it begins exporting natural gas with its full capacity, he said.</p> <p>A pipeline to export gas to Djibouti, will be launched in September and will take two years to complete.</p>
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