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From: B-Haile (eritrea.lave@comhem.se)
Date: Mon Oct 18 2010 - 00:11:58 EDT
Date 2010/01/31
Middle East Office: Tetsuya Fujii
Eritrea: Great Spot in the Eastern Africa? - Hidden Oil and Gas exploration/development potentials
- Only 12 exploration wells have been drilled in the Eritrean Red Sea vast sedimentary basin (100,000km2), mainly because of political risk such as border dispute with Ethiopia.
- Totally 12 blocks are open now including Red Sea, onshore near Red Sea, and western inland. There is a gas discovery well, and also oil/gas shows were confirmed in the most of
wells. It is assumed that exploration potentials are remain.
- Oil/gas development environments are also favorable, because there are high population areas near the Eritrea such as Jeddah in Saudi Arabia. Also Red Sea is busy principle ship
route, which will be favorable for the transportation.
- Recently activity of mineral exploration is high. Production from gold mine will be started from later half of 2010. 14 foreign companies are conducting exploration activity now.
Particularly activities by Chinese companies are outstanding. They have strong relationship with Eritrean government through financial support to medical organizations.
- Asmara is very safe city and political risk is also relatively low.
Introduction
Republic of Eritrea is the youngest independent country (Figure 1) in Africa (attained independence from Ethiopia in 1993) where it faces the Red Sea. It has long petroleum
exploration history which started in 1920s by Italian company, but only 12 exploration wells have been drilled in the Eritrean Red Sea vast sedimentary basin (100,000km2), because of
political instability such as independent dispute more than 30 years, and border dispute with Ethiopia (from 1998 to 2000).
Recently, petroleum exploration in Uganda?s basin, which is located in the same Eastern African Basin, is very active. But areal distribution of sedimentary basin of the Eritrean Red
- Only 12 exploration wells have been drilled in the Eritrean Red Sea vast sedimentary basin (100,000km2), mainly because of political risk such as border dispute with Ethiopia.
- Totally 12 blocks are open now including Red Sea, onshore near Red Sea, and western inland. There is a gas discovery well, and also oil/gas shows were confirmed in the most of
wells. It is assumed that exploration potentials are remain.
- Oil/gas development environments are also favorable, because there are high population areas near the Eritrea such as Jeddah in Saudi Arabia. Also Red Sea is busy principle ship
route, which will be favorable for the transportation.
- Recently activity of mineral exploration is high. Production from gold mine will be started from later half of 2010. 14 foreign companies are conducting exploration activity now.
Particularly activities by Chinese companies are outstanding. They have strong relationship with Eritrean government through financial support to medical organizations.
- Asmara is very safe city and political risk is also relatively low.
Read more http://www.eritreaembassy-japan.org/data/exploration%20_en.pdf
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