The Ministry of Mines and Africa Oil Corporation (AOC) on Thursday signed petroleum exploration and production agreement.
Mines Minister, Sinknesh Ejjigu and AOC Vice President, Business Development, James R. Phillips signed the agreement.Sinknesh said on the occasion the oil exploration and production accord covers 42,000 and 50,000 square kms in South Omo and Ogaden regions, respectively.
She said the Company would undertake its activities as per the law of the country and based on international experiences.AOC in collaboration with Tullow Oil and New Age Ethiopian LTD Company has been undertaking encouraging activities in petroleum exploration and development, the minister said.
Phillips for his part said AOC has good experience both in exploration and production of petroleum in different African countries.Petroleum extraction and development in Ethiopia would contribute share towards development of the continent, he said.
Source: ERTA