Addis Ababa, 22 September 2014 – Tewodros Gebre Egziabher, State Minister of Mines urged investors to consider the East Africa, which is endowed with oil and gas deposits, as their investment destination.
A delegation led by the state minister attended the East African Oil and Gas and the Africa Down Under Conferences in Perth.
In his speech at the Oil and Gas Conference held at the Hyatt Hotel, the state minister called on investors in the sector to use the opportunity by investing in the region.
In the same conference, Ambassador Arega Hailu Teffera talked about the current political and economic environment which is conducive to investors while Dr.Ketsela Tadesse, Director of Petroleum licensing and Administration, presented Ethiopia’s Oil and Gas Potential, Policies, Regulations and Bidding Rounds.
According to aigaforum, Dr. Ketsela disclosed that Mekelle, Afar rift, Abay and Gambella basins as well as the southern rift are rich in oil and gas and the opportunities for exploration and development are tremendous.