Addis Ababa February 21/2013 The Ministry of Mines and Africa Oil Corporation (AOC) here Thursday signed petroleum exploration and production agreement.
Mines Minister Sinknesh Ejjigu and AOC Vice President Business Development, James R. Phillips signed the agreement.
Sinknesh on the occasion said the exploration and production of oil covers 42,000 and 50,000 square Km in South Omo and Ogaden regions respectively.
The Minister said the Company will undertake its activities as per the law of the country and based on international experiences.
She said AOC in collaboration with Tullow Oil and New Age Ethiopian LTD Company, is undertaking encouraging activities in petroleum exploration and development.
Phillips on his part said that AOC has good experience both in exploration and production of petroleum in different African countries.
Petroleum extraction and development in Ethiopia will contribute share towards development of the continent, he said.