2merkato

BGP Geo Services plc announced collecting encouraging data from oil exploration in the South Omo Valley in Ethiopia. BGP delivered a significant seismic data report which indicated the presence of some oil according to sources at the Ministry of Mines.

The company will continue collecting seismic data over the next couple of months and drill areas for exploration wells will be determined on the interpretation of the data collected.

No exploration wells have been drilled so far in South Omo.

Oilseed has taken over coffee by being the biggest source of foreign currency for Ethiopia during the first 10 months of the current fiscal year.

Oman seeks to increase its non-oil exports to Ethiopia by organizing an exhibition in the country after conducting an exhaustive market study, according to Times of Oman.

Omani Products Exhibition (OPEX-2016) is going to be held in Addis Ababa, Ethiopia, by mid April. This is the first time the exhibition is being hosted outside of the Middle East.

100 Omani companies, who invested in agro industry, food, building materials and other sectors, will take part in the exhibition.

Senior Omani trade delegation is to explore new business and investment opportunities in Ethiopia, trade Arabia news service, reported.