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Tullow Oil, a London based oil company, announced that it is engaged in a discussion with the Ministry of Mines for its license extension.
The company that drilled four exploration wells in the past two years in the South Omo basin, which is part of the Great Rift Valley and ended its drilling with unsuccessful results, explained that it has a plan to extend its license for its exploration. Tullow drilled Sabisa-1, Tultule-1, Shimela-1 and Gardim-1 exploration wells around the Kenya border.
In the statement the company sent to Capital, Tullow is engaged in license extension discussions with the Ministry of Mines.  “We are currently examining the substantial volume of drilling and seismic data collected to decide our future exploration plans for the Southern Ethiopian acreage,” the statement reads.
Tullow further stated that the hydrocarbon data collected from the South Omo basin wells are indicative of a working petroleum system and the acreage in Southern Ethiopia remains to have prospects.        
The company has also mentioned that it will reduce the number of crew because it will not have latest drilling plan.
“With a break in drilling activity in the interim there will be a corresponding reduction in operational personnel in Ethiopia,” it reads.
Tolossa Shagi, Minister of Mines, told Capital that the company has already delivered its interest to continue its work in Ethiopia. “They have interest to stay in Ethiopia to engage in their exploration work,” he said.
“We will approve their license extension request in the coming week,” he added.
Tullow has 50 percent stake in the concession at the exploration in the Southern Omo basin with 30 and 20 percent share going to Africa Oil and Marathon Oil respectively.
Tullow has secured impressive result in similar geographical areas in Kenya and Uganda.
Currently, several oil companies are engaged in exploration process in different part of the country. The Chinese oil company China Poly Group Corp is now working to develop gas production at Calub and Hilala natural gas fields.
The company has already agreed with Djibouti’s government for the construction of refinery at the port area and construction of pipeline.
Several oil companies have been engaged in oil and gas exploration during the past half century and some of the explorations indicated that the country has a potential resource, while the country is not yet developing the energy.