2merkato

Ethiopia developed around 2.7 million hectares of land by irrigation in the just concluded fiscal year. This was disclosed by the Ministry of Farming and Natural Resources (FNR).

The Ethiopian Coffee and Tea Authority said it is developing a national umbrella coffee brand to the international coffee market.

Tourism Ethiopia announced a new strategy intending to greatly increase the number of tourists visiting Ethiopia. The new strategy has been developed hand in hand with the World Bank.

An American based petroleum property analysis and consulting firm, Netherland, Swell & Associates, verified the existence of 7 trillion cubic feet of natural gas in the Ogaden area of Ethiopia. The firm conducted a four-month study to issue the finding and handover the first gas reserves certificate to the Ministry of Mines and Petroleum.

According to Takele Uma, the Minister of Mines and Petroleum, efforts are underway to implement the finding. He stated that the study was an assurance of the availability and commerciality of natural gas and crude oil in Ethiopia.

Exploration in the Ogaden Basin which covers an area of 350 thousand square kilometers began in the 1920s. The Calub gas field in the Ogaden region was discovered in 1973 which made it one of the earliest finds in the area.

The Ethiopian Ministry of Mines and Petroleum announced it is drafting a new petroleum policy and proclamation. Once finalized, the new policy and proclamation will enable Ethiopia to consolidate its exploration of oil and determine the volume of natural gas in the country, and extract them, the Ministry stated.