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[AbyssiniaLady]

Ethiopian parliament approves accord with Djibouti to build natural gas pipeline: report

Source: Xinhua| 2019-12-26 00:02:33|Editor: Mu Xuequan





ADDIS ABABA, Dec. 25 (Xinhua) -- The Ethiopian House of Peoples' Representative (HoPR) has approved an agreement that was signed between the governments of Ethiopia and Djibouti to install a cross-border pipeline to transport natural gas.

The HoPR, the lower house of the Ethiopian parliament, "approved the agreement as it meets international requirements and allow the country to generate foreign currency from gas export," state-affiliated Fana Broadcasting Corporate (FBC) reported on Wednesday.

Landlocked Ethiopia, which announced the discovery of up to 7 to 8 billion cubic trillion feet (TFC) of natural gas in Ethiopia's Somali regional state by the Chinese firm Poly-GCL Petroleum Group Holdings Limited (Poly-GCL), had signed the agreement with Djibouti early this year to build the pipeline which enables it to transport natural gas from Somali area to an export terminal in the Red Sea nation of Djibouti.

Endorsing the bilateral agreement signed by the two neighboring countries, the Ethiopian House of Peoples' Representative also emphasized that the latest agreement would "further cement the previously concluded deals" between the two countries, according to the report.

In February this year, the Ethiopia Ministry of Mines and Petroleum had disclosed that the Poly-GCL, which discovered the natural gas reserve in Ethiopia's Somali area, would construct the 767-km natural gas pipeline.

The ministry also stressed that the move would bring much-needed foreign currency to both countries, once the natural gas pipeline project is constructed and commissioned.

Poly-GCL is expected to install a pipeline to transport the gas from fields in landlocked Ethiopia up to ports in neighboring Djibouti in a period of two years. Around 700-km of the natural gas pipeline will be located in Ethiopia, while the rest of the natural gas pipeline will be located in Djibouti, according to the ministry.

The East African country, following the discovery of the hug natural gas, had also announced its plans to generate 1 billion U.S. dollars annually from extraction of natural gas and crude oil deposits.

http://www.xinhuanet.com/english/2019-1 ... 657550.htm

Good news!!

[AbyssiniaLady]

The geology of offshore Somalia is proven— and fresh details attracted even more attention at Africa Oil Week in November—as the country prepares for its much-delayed first licensing round in December.

An independent assessment of the 15 blocks has found there may be 30bn bl of oil in shallow and deepwater, which is easily accessible so long as it remains free of the piracy that afflicted the area in recent memory.

Since the merger of subsurface data providers Spectrum and TGS this year, the Somali offshore has been supported by “a much bigger data library”, according to the first scientist to evaluate it, Karyna Rodriguez, vice president of geosciences at TGS.

“We really see oil potential all along the Somali coast. This is going to be the next oil province. I totally agree with the ministry. This is not going to be gas… the source rocks are not buried deep enough to be giving off gas.”

Above-ground risk

She says TGS’s “thermal maturity modelling indicates that we will be generating a lot of oil, the [sea surface] slick evidence is telling us that we are generating light oil and we have a lot of different structures. This is a huge area… and each of these leads is big. In terms of the subsurface, we have huge potential. We have done a summation of all the potential leads and it comes to about 30 bn bl. And that is just what we were able to map out,” says Rodriguez.

https://www.petroleum-economist.com/art ... -the-peace

Somalia has a bright future ahead..