Ethio Tribune

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Ethiopian driller seeks place in oil history

Posted by Ethio Tribune on April 9, 2013

LONDON, April 8 (Reuters) – – Tewedros Ashenafi hopes his Ethiopian exploration outfit will become the first indigenous company to make a basin-opening discovery in sub-Saharan Africa’s 21st Century oil and gas boom.

His privately-held SouthWest Energy holds 46,000 square kilometres of exploration acreage amounting to almost 4 percent of the vast, land-locked east African country.

It is looking to drill three wells in 2013 and 2014 in its Jijiga basin blocks on Ethiopia’s border with Somalia in the east of the country.

Geological similarities with oil-rich Yemen across the Red Sea could help make a country which produces no oil or gas at all into a 400,000 barrels a day producer, as much as western neighbours Sudan and South Sudan can produce together, Ashenafi hopes…click here to read more>>

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