• Most Popular
  • Most Shared

UK White Nile signs Ethiopia oil deal

Wed Jan 16, 2008 3:42am EST

ADDIS ABABA, Jan 16 (Reuters) - Ethiopia has signed an oil exploration deal with Britain's White Nile WNL.L for the Omo and Chew Bahir Basins in the south of the country, the Ministry of Mines and Energy announced on Wednesday.

"The agreement enables White Nile to carry out petroleum exploration and development over a 29,465 sq km (11,380 sq mile) area ... in the Omo and Chew Bahir areas considered to be with great petroleum potential," it said.

The firm and ministry officials have been evaluating petroleum potential in the region under an agreement they signed in 2007, the ministry said in a statement.

The company has also acquired other exploration rights in Southern Sudan and Northern Kenya, areas that are geologically similar to that of Ethiopia's rift basin, the ministry said.

Twelve oil prospecting companies are exploring in different parts of Ethiopia; in the west bordering Sudan, in the Ogaden and the Nile Basin in the north, officials said. (Reporting by Tsegaye Tadesse)



More from Reuters

Photo

U.S. official admits security failed in air scare

WASHINGTON (Reuters) - A regional wing of al Qaeda claimed responsibility on Monday for a failed Christmas Day attack on a U.S.-bound passenger plane, saying it was to avenge U.S. attacks on the group in Yemen. | Video

» More Top News
Passengers queue to go through security checks at the departure gate at Gatwick Airport, in southern England December 28, 2009. REUTERS/Luke MacGregor

Travel headaches after scare

The U.S. is stepping up airline security measures following the Christmas bomb scare. Here's what you can expect.  Full Article | Video 

U.S.
A man yells at the site of suicide bomb attack on a procession of Shit'ite Muslims commemorating Ashura in Karachi December 28, 2009. Credit: REUTERS/Athar Hussain

"Worse than an infidel"

Dozens killed as suicide bomber attacks Shi'ite Muslim progression in Pakistan despite thousands of security forces on high alert.   Full Article | Video 

World