Representatives of the Malaysian oil company, Petronas, last month asked the Ethiopian Ministry of Mines for oil exploration rights that would enable them to prospect for crude oil in the Ogaden basin in the Somali Regional state.
Petronas, one of the top ten leading international oil companies in the world, signed a petroleum exploration and development agreement with the Ministry of Mines to prospect for oil in the Gambella basin, western Ethiopia. The agreement was signed in April 2003. And the Chinese company contracted by Petronas began to undertake geological survey in the Gambella basin last September.
Two years ago Petronas signed another agreement with the MoM that granted it a one-year exclusive study right in the Ogaden basin, which latter was extended for another one year. In the past two years, experts of Petronas were analysing the geological data collected from the Ogaden basin in the company’s headquarters in Kuala Lumpur. The MoM has been assisting the company in providing all the necessary information.