BODY:
ETHIOPIA has signed a four-year exploration deal with Malaysia's stateowned oil company, Petronas, But rebel group The Ogaden National Liberation Front warned that such a deal would not be acceptable until people in the region have their own government.
Petronas has to invest at least £8.6m in start-up funding and Ethiopia will receive unspecified royalties if oil is found in the 35,907 square-mile area in the eastern Ethiopia region of Somali
As a somali Ethiopian I believe what ever resources that are found in any where in Ethiopia including in the Somali state are gift of GOD to all Ethiopians. I wish our elite leaders will sort out their oversized egoes and work for the common good
for all.
Dear Ibrahim,
It is great news that oil has been found in Somali region.But,the question is:'Is it economically feasible?' I ask this because when I was a boy, an American company by the name of Teneco was supposed to drill out oil but,after raising the hope of the people in the area,it was shut down for lack of profitability.That is what makes me apprehensive.
I sincerely hope there are vast wells.
