Tullow to begin Ethiopia drilling programme
Monday, 13 August 2012 16:11
Tullow Oil Plc is to commence drilling operations in Ethiopia’s South Omo Block as of January 2013 after reaching an agreement with the country’s Ministry of Mines
The drilling programme, the first to occur in the Southern Omo Valley, will be carried out by Canadian company Africa Oil Plc on behalf of the London-based exploration firm.
While carrying out scientific surveys of its Ethiopian concession, the results of which are being finalised, Tullow informed officials of an oil reserve that has a potential capacity significantly larger than its neighbouring Kenya or Uganda, and that it expects to strike oil within the first year of drilling.
Tullow chief executive Aidan Heavey commented, “Our exploration-led growth strategy continues to yield an exceptional success ratio.”
Tullow has had numerous positive results from East Africa drilling operations, such as the recent discovery of 1.1 bbo in Kenya.