10 April 2013, Addis Ababa – SouthWest Energy has announced the results of a study on the potentials of its Gambella basin block and blocks 9A, 9 and 13 in the Jijiga basin in Ethiopia, brightening the country’s hope of hitting onshore oil.
Chairman of the company, Ato Tewodros Ashenafi, said the report on the study confirmed the potentials of the Gambella and Jijiga basins at between 1.56 and 2.9 billion barrels of oil.
According to him, the result confirmed his company’s original belief that the assets had strong oil potential.
The company, which has total concessions of 46,000 square kilometres, would now proceed to the next stages, which involves refining of its seismic data and starting a well programme.
It plans to drill three initial exploration wells in the Jijiga basin during the course of 2013/14.
Minister of Mines, Sinkinesh Ejigu, described the report as an important step in the quest to find onshore oil in Ethiopia.