First Certificate On Gas Reserves Shows Presence of Seven Trillion Cubic Feet in Ogaden Basin addisstandard: Ethiopia
The certificate was handed over to Takele Uma, Minister of Mines and Petroleum, by the American company Netherland, Sewell & Associates, Inc , American based petroleum property analysis and consulting firm with offices in Dallas and Houston,Texas, which conducted the study.
Speaking at the handing over ceremony of the document, presence of the new study helps to create a system of accountability, the Minister said, adding works were underway to materialize the study into practice. "This document is a confirmation certificate of Ethiopia's natural gas volume and economic viability. With this certificate, we can invite companies with technological, financial and investment potential at the international level. It also empowers the government's bargaining power," Takele said.
Minister Takele further said that in the past, it was only known that that oil and natural gas reserves existed in Ethiopia, but not the amount."I believe it [the certificate] will also be a good wake up call to the companies that are holding our wealth captive with misinformation."to be met by Chinese owned POLY-GCL Petroleum Group Holding Limited, related to its years of activities in the Ogaden Basin.
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