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Ethiopia, World Bank Sign $203 Million Financing Agreement

Ethiopia, World Bank Sign $203 Million Financing Agreement

Addis Ababa, Ethiopia – The government of Ethiopia and World Bank yesterday signed financial agreement amounting to 203 million USD for the development of geothermal energy. Of the total amount 178.5 million USD is provided in the form of loan, while the balance (24.5 million USD) is donation. The assistance will enable Ethiopia develop its […]

New Age Ltd assesses exploration well potential

By Kaleyesus Bekele Addis Ababa, Ethiopia - The British company that is prospecting for oil in the Ogaden basin, New Age Ltd, is assessing the oil and gas potential in the well it recently drilled. The well-dubbed El Kuran-3, in the Somali region of Ethiopia, has reached a total depth of 3,528 meters. Experts of New […]

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Tullow to start drilling third exploration well

By  Kaleyesus Bekele Addis Ababa, Ethiopia - The British oil company  in Ethiopia, Tullow Oil, is to start drilling its third exploration well in Southern Ethiopia. Previously, Tullow has drilled the Sabisa-1 and Tultule-1 in the South Omo Block. Oil and gas shows were noted in the first well while the second well was abandoned as […]

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Addis Ababa, Ethiopia - Various companies have proposed that the government introduce better petroleum and mining laws to help boost the potentially lucrative industry. eDuring a two-day workshop at the Harmony Hotel organized by the renowned consultancy firm Deloitte Ethiopia earlier this week, representatives of different companies said that Ethiopia has immense mineral and petroleum resources, […]

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Addis ababa, Ethiopia - The British Oil company prospecting for oil in the Ogaden basin, New Age, has noted oil and gas flow in its appraisal well Elkuran-3. New Age started drilling the appraisal well last October, with a targeted depth of 2,850 meters. Reliable sources told The Reporter that a crew was drilling the well […]

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Press Release The Government of Ethiopia and Reykjavik Geothermal (RG) today announced an agreement to build and operate up to 1000 MW of geothermal power in two 500 MW phases. Reykjavik Geothermal, a US – Icelandic development company, has been working with the Ethiopian Electric Power Corporation (EEPCO) and various government ministries for the past […]

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By Kaleyesus Bekele The UK oil firm, Tullow Oil, did not find oil in the first exploration well it drilled in its concession in the South Omo basin, it was learnt. Reliable sources told The Reporter that the drilling crew of Tullow Oil Ethiopia did not find oil flow in the first exploration well dubbed […]

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Tullow Oil, the British explorer that found Kenya’s first crude a year ago, is about to find out whether the resources extend into neighboring Ethiopia, a nation dependent on agriculture that’s yet to discover any petroleum. Tullow, Africa Oil Corp. and Marathon Oil Corp. plan to complete their Sabisa well in western Ethiopia’s South Omo […]

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(CNN) – U.S. President Barack Obama pledged $7 billion Sunday to help combat frequent power blackouts in sub-Saharan Africa. Funds from the initiative, dubbed Power Africa, will be distributed over the next five years. Obama made the announcement during his trip to South Africa, the continent’s biggest economy. “Access to electricity is fundamental to opportunity in this […]

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Tullow, ministry deny oil discovery report

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Tullow, ministry deny oil discovery report

Addis Ababa, Ethiopia - The British oil company, Tullow, and the Ethiopian Ministry of Mines denied media reports that claim that Tullow has discovered oil in the South Omo Valley. A US based website, Energy and Capital, this week reported that Tullow has discovered oil in Ethiopia. However, executives of Tullow have completely denied the news […]

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