Tullow Oil Positive on Ethiopia Oil Find

April 15, 2013

The result so far is a positive one, with no other explorer having come as close, in Ethiopia.
The result so far is a positive one, with no other explorer having come as close, in Ethiopia.

The Irish oil company, Tullow Oil, with concessions in the South Omo Basin, southern regional state, is closer to finding oil in Ethiopia, after its explorers recently found evidence to indicate that there is indeed oil in the area.

Tullow Oil, in joint venture with Africa Oil (30pc) and Marathon Oil (20pc), began drilling a well in its Sabisa-1 bloc last January, 2013, after its senior managers assured Ethiopian authorities that they would find oil in Ethiopia. The company has advanced oil exploration operations running across the border in Kenya, where its team is currently involved in “flow testing and reservoir stimulations” in the Anza Basin.

Its team in Ethiopia have so far drilled 1,800 metres down, but was challenged by an unstable condition, where sand filled “a thick clay stone to seal”. This has compelled the explorers to sidetrack by 800 metres, in their bid to get samples for further examination.

The result so far is a positive one, with no other explorer having come as close, in Ethiopia, since the 1950s, when an American company began exploration for oil in the Ogaden Basin.

“We’re encouraged by the hydrocarbon indications, which provide emerging evidence for a working petroleum system in the previously undrilled South Omo Basin,” says Angus McCoss, exploration director of Tullow Oil, in a statement the company issued today, April 15, 2013.

Final test results are due next month, according to sources in the company.

Source: addisfortune