<\/p>\n

Ethiopia will begin extracting crude oil on a test basis from reserves in the country\u2019s southeast today.<\/p>\n

Fitsum Arega, chief of staff in Prime Minister Abiy Ahmed\u2019s office, said on Twitter that Abiy had met with officials from Poly-GCL<\/span>\u00a0Petroleum Investment Limited to \u201cofficially kick-start crude oil production test in Ogaden Region\u201d.<\/p>\n

\u201cThe company has discovered that there is a prospect of commercial quantities of crude oil in the region,\u201d Fitsum wrote.<\/p>\n

The firm is a joint venture of state-owned China\u00a0POLY<\/span>\u00a0Group Corporation and Hong Kong-based Golden Concord Group.<\/p>\n

450 barrels will be produced on Thursday 28 June on a trial basis.<\/p>\n

The prime minister added that full-scale\u00a0production of crude oil in the future would help the state alleviate unemployment and the prevailing\u00a0foreign currency shortage.<\/p>\n

Ethiopia also projects to earn up to 8 billion US dollars annually once it begins exporting natural gas at its full capacity.<\/p>\n

A pipeline to export gas to Djibouti will be launched in September and will take two years to complete.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethiopia will begin extracting crude oil on a test basis from reserves in the country\u2019s southeast today. Fitsum Arega, chief of staff in Prime Minister Abiy Ahmed\u2019s office, said on Twitter that Abiy had met with officials from Poly-GCL\u00a0Petroleum Investment Limited to \u201cofficially kick-start crude oil production test in Ogaden Region\u201d. \u201cThe company has discovered …<\/p>\n","protected":false},"author":16,"featured_media":11341,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-11340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-embassy-news"],"jetpack_featured_media_url":"https:\/\/ethiopianembassy.be\/wp-content\/uploads\/05_Oil-Extraction-1.jpg","_links":{"self":[{"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/posts\/11340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11340"}],"version-history":[{"count":1,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/posts\/11340\/revisions"}],"predecessor-version":[{"id":11342,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/posts\/11340\/revisions\/11342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=\/wp\/v2\/media\/11341"}],"wp:attachment":[{"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethiopianembassy.be\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}