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Tullow Oil announced that it is about to start drilling its first exploration well in Southern Omo in Ethiopia. It is expected that Tullow will start drilling on the first well in two weeks. The explorer has hired a drilling company, and all the drilling machines and other required machines have arrived at the drilling location according to sources.

It is to be remembered that the Ethiopian Ministry of Mines announced that it was in the process of facilitating visas for a Tullow drilling crew that will oversee the launch of drilling processes in October. The crew is expected to be composed of 20 primarily Polish experts.

Tullow Oil is set launch drilling activities on its concession in the South Omo region of Ethiopia. The international gas and oil exploration company expects to begin drilling in January of 2013 according to a senior official with the Ethiopian Ministry of Mines.

Tullow Oil had informed Ethiopian officials of oil reserves potentially larger then discovered in Uganda or Kenya while the company was finalizing its Full Tensor Gradimametric Gravity Survey and collecting seisimic Data.

The company’s management has assured Ethiopian authorities of oil discoveries within a year although officials have been reluctant to raise expectations amongst the public with more evidence it was said.

Tullow Oil plc, is to announce the results it obtains from the geological test drills launched earlier this month on its Ethiopian concession, in South Omo.

The company anticipates drilling up to a depth of 2,600 meters to test for oil potential, after which it will make the final decision as to whether it will continue drilling or not according to an official with the British oil and gas explorer.

Tullow intends to dig twelve more holes to better estimate the quantity of oil that could be extracted, should it obtain positive results from its initial drilling activity.

Tullow Oil’s exploration well, Gardim-1, which it drilled in the eastern flank of Chew Bahir Basin in Ethiopia is announced to have failed find commercial levels of oil.

Turkey is preparing to establish a Turkish industrial zone in Ethiopia's capital, Addis Ababa, according to todayszaman.com.

Speaking at the opening of the African Strategies Sectoral Evaluation Meeting in Ankara on Monday, Turkish Foreign Minister Ahmet Davutoğlu said that the Ethiopian prime minister had proposed the assignment of a plotof land for the establishment of a Turkish industrial zone in Addis Ababa.

“They [the Ethiopians] know that we don't go to Ethiopia with a passing fancy and calculations of temporary profits. We also know that they don't only offer a business opportunity but that they opened their hearts,” Davutoğlu said, stressing that ties between Turkey and Ethiopia are not only economic, but also social relations between the two countries is thriving as well.

Davutoğlu stated that, there are now 341 Turkish companies with a total investment of $3 billion in Ethiopia.

Source: todayszaman.com