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Ethiopia: Chinese oil firm to launch a Petroleum Exploration Project in Ogaden basin Fri. May 12, 2006 08:10 am. - Apunyu Bonny (SomaliNet) A Chinese oil firm is set to kick off a seismic survey in east Ethiopia's Ogaden basin next month, the management revealed Thursday. Chinese oil firm, Zhongyuan Petroleum Exploration Bureau (ZPEB) together with the Malaysian oil giant Petronas, have agreed on the petroleum exploration project to be launched in the Ogaden basin next month, said Li Jianjun, chief representative of ZPEB's Ethiopia office. Petronas contracted ZPEB which was awarded three blocks in the Ogaden basin. The three blocks in the Ogaden basin are located in the Fer Fer, Warder and Genale localities. The total area covers about 93,000 sq km. According to Li, the Chinese firm will at first start undertaking the seismic survey in the Genale locality, some 1200 km east of the capital Addis Ababa, ZPEB conducted the well completion work in the Calub gas field in the Ogaden basin. Ethiopian government contracted ZPEB in 1998 and ZPEB made eight gas wells in Calub ready for production. The company was paid 5.6 million U.S. dollars for the job. Ogaden and other four sedimentary basins in Ethiopia are endowed with oil and natural gas. The country's current natural gas reserves are estimated to be 24 million cubic meters, according to geological data. News Category: East Africa Latest Headlines Latest News Somalia: WFP welcomes Canada naval escort in Somali... E. Africa: Kenya security alerts Tanzanian coun... WB to pump huge money to infrastructure project... Olympics: Somali delegation expects Olympics to brin... Kenya, Tz mark 10th anniversary of deadly bombi... Somalia: Well-known Somali aid worker killed south... Al Qaida North Africa wing claims responsibility for... Egypt: Police discovers 20 underground tunnels near ... Somalia: Canadian navy to escort WFP ships carrying... Premier League: 'I will stay at United'-Cristiano Ro... More News...