Ethiopia discovers two billion barrels of crude oil reserves in the Nile basin.
Published on 19.1.2023
Ethiopian Minister of Minerals, Takle Oma, announced that “his country has crude oil reserves estimated at two billion barrels, in the Warilo region, located in the Nile basin in the Amhara region”.
Oma said, according to the Ethiopian Rased website, on Wednesday, “a survey has been carried out to search for oil in the Warilo region in the northern part of the Nile basin in Ethiopia’s Amhara region”.
Oma also confirmed that “studies have shown that there are over two billion barrels of crude oil”.
“This major development is of great importance for the development and future of Ethiopia,” the Ethiopian minister said, noting that “oil exploration research is being carried out in 4 other basins in Ethiopia.”
He explained that “one of the companies has previously carried out exploration work in the Warilo area, but due to a lack of capacity, it was forced to stop the work”, adding that “the government Ethiopia is currently facilitating and providing all capabilities and resources to expedite the work in this region.”