Swedish oil operator says confident in Ethiopia's exploration

Swedish oil operator says confident in Ethiopia's exploration

Sudan Tribune - October 10, 2008

SSwedish oil explorer, Lundin Petroleum AB, showed on Thursday confidence on its exploration in southern Ethiopia saying it would lead to discoveries of oil as well as natural gas.

The Ethiopian government and the Swedish oil operator signed a Production Sharing Contract (PSC) on November 7 2006. Lundin's first PSC cover Blocks 2, 6, 7 and 8 located in the onshore Ogaden Basin.

"We feel that this basin has not only proven gas potential but also light oil," James Phillips, Lundin Petroleum's vice president of exploration for Africa and the Middle East, said at the Africa Upstream 2008 oil conference in Cape Town. Read More.