Ethiopia Needs Three Years To Develop Newly Discovered Oil Resource

Ethiopia Needs Three Years To Develop Newly Discovered Oil Resource
Ethiopia is a new player in the global oil industry.

AFRICANGLOBE – Ethiopia’s Ministry of Mines, Petroleum and Natural Gas disclosed that the country needs additional three years to develop its petroleum resources in the Ogaden area.

The nation has announced in June that it has discovered a huge crude oil reserve in the Ogaden area, eastern part of the country.

Ketsela Tadese, Petroleum Licensing and Administration Director at the Ministry told reporters that there are activities that need to be done before entering into the production process.

Drilling of hundreds of additional wells as well as development of various infrastructure facilities that are important for the production process need to be done in order to develop the resource, he added.

According to him, these activities could take up to three years.

Besides the resource in Ogaden, the country is working to explore other potential areas, Ketsela said.

So far, five areas in different parts of the country are being explored. The Rift Valley, Abbay, Mekelle, Metema and Gambella basins are where the explorations are being undertaken.