SWE Announcement: March 2, 2012

Seismic Acquisition Complete - 10 February 2012

The 2D programme set a new benchmark for the Ethiopian oil and gas industry, says Girma Tefara, SWE Exploration Manager.

“We have just completed the fastest acquisition of 2D seismic data in Ethiopian history. The data collected is of very high quality, which is important to our ultimate goal of finding oil. That’s something the team can reflect on as we progress to data analysis, data interpretation and then, hopefully, drilling.”

As reported throughout the course of the programme, the data collected has shown promising structures on lines 4 and 7, with estimated combined potential of four to nine billion barrels.

“Our Contractors have been outstanding in their operations and communications, always letting us know when they find an interesting structure,” says Girma.

Over the coming months all of the data collected – 2D, full tensor gravity and geochemical – will be integrated and analysed in order to identify the sites with the best drilling potential. 

With funding commitments in place to cover activities up to the commencement of drilling in SWE’s Ogaden Basin blocks 2012 promises to be the most exciting and eventful in our history.

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