Ethiopia says eyes gas production in six years

By REUTERS
August 3, 2011 19:13

 
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ADDIS ABABA - 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 licenses 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.

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