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Ethiopia Petroleum

Ethiopia begins first-ever crude oil production

Ethiopia, for the first time ever, began producing crude oil at Kalub and Hilala fields on Thursday in the eastern part of the country. A groundbreaking trial-production ceremony saw three oil wells spewing 150 barrels, each raising the nation’s hopes of generating hard currency and creating employment.

The area, according to the Ministry of Mines, is proven to have 6-8 trillion cubic meters of crude oil. The Chinese company Poly-GCL Petroleum Investment Limited is responsible for the extraction of both crude oil and natural gas in the Ogaden area, Somali regional state in eastern Ethiopia.

The announcement of trial production was made by the country’s Prime Minister Abiy Ahmed earlier. “The oil production should never be a bane to us,” Prime Minster Abiy cautioned the nation, adding it would be instrumental in alleviating unemployment in the country.

Ethiopia plans to earn an annual revenue of $8 billion from natural gas exports, which will be made through a pipeline to be installed beginning this coming September. The natural oil is to be extracted two years from now, according to a Twitter post by Fitsum Arega, the chief of staff of the Prime Minister’s office.

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