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Eritrea confirms it has huge commercial quantity of oil and gas reserve

The recently expanded liquefied petroleum gas LPG storage in Massawa


In its National Progress Report 2016, the Eritrean government confirmed there are commercial quantity of oil and gas reserve in the country. The statement read:

"Recently, commercial quantity of oil and gas reserve has been confirmed. Even though the country’s full potential has not been exploited fully, it is reported that it has a potential of producing to 200,000 barrels of oil per day"

The confirmation comes just months after Tullow Oil Plc's vice president for Africa, Tim O'Hanlon, visited Asmara to meet with several officials from the energy and mines ministry to pick up blocks in the country.

Regionally, most of Eritrea's neighbors, including Sudan, Ethiopia, Kenya, Uganda, and Somalia, have found commercially viable oil or gas deposits and are currently at different stages of exploration or production.

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Eritrea confirms it has huge commercial quantity of oil and gas reserve Reviewed by Admin on 1:07 AM Rating: 5

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