Manufacturing Industry
ETHIOPIA: TAKEOVER OF STATE-OWNED HYDROCARBONS COMPANY IS EXPECTED TO LEAD TO $1,400,000,000 NATURAL GAS FIELD DEVELOPMENT PROJECT, SILCO OIL CO. [USA] - Order #: 01462000.
WWP- Report on Oil Gas & Petrochemicals in the Developing World, December, 1999
PROJECT OVERVIEW:
U.S.-based SILCO recently invested $14,000,000 to acquire a 95% stake in the state-owned hydrocarbons company CALUB SHARE CO. (CSC) under the government's privatization process. The company in question is said to have already dug six wells at Calub and another four at Hilala in Ethiopia. As a result, construction work on 8 of the 10 Calub wells has now been completed.
The 2 fields in question are located in the southeastern Ogaden region, currently known as the Ethiopian Somali region. They reportedly contain an estimated 4 trillion cubic feet of natural gas in addition to 13.6 million barrels of associated liquids. As things currently stand, SILCO has signed a memorandum of agreement (MOU) with the Ethiopian government...
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