Area Drilling

April 24, 2006
The Ministry of Mines & Energy signed a production-sharing agreement with Afar Exploration Co.

Ethiopia

The Ministry of Mines & Energy signed a production-sharing agreement with Afar Exploration Co. LLC, Tulsa, Okla., covering 21,187 sq km in the Afar National Regional State.

The agreement grants Afar Exploration the exclusive right to exploration and development in the license area.

Ethiopia has granted five oil exploration licenses in the past two years. Malaysia’s Petroliam Nasional Bhd. holds four licenses in the Gambela and Ogaden basins (OGJ Online, June 25, 2003). Malaysia’s Pexco holds a license in Ogaden.