Now the government is set to auction the site for other interested oil and gas exploration companies. “To prepare the area for the company (Falcon), we listed the names of the farmers in the area who will be relocated. If all goes well and the oil reserve in the area proved to be commercially feasible, it is going to be the second oil and gas production project for Ethiopia, next to the one found in Somali Region, which recently began test production of 450 barrels crude oil per day. In addition to oil reserve, there were also reports about huge iron reserve in Amhara Region around Sekota. Around five months ago, the Chinese company has indicated that it has started gas production in Somali Region.

Source: News Business Ethiopia December 26, 2018 15:28 UTC