SWE Announcement: May 24, 2012

Stakeholders’ workshop held in Addis Ababa

Over 60 stakeholders in the oil and gas industry recently attended a full-day workshop in Addis Ababa to learn more about the impacts of commercial discovery of oil and gas in Ethiopia.

The ‘Introduction to the Oil & Gas Industry’ workshop on May 18th was led by a visiting Professor from Aberdeen’s Robert Gordon University and co-sponsored by SouthWest Energy and Tullow Oil. A range of topics were covered, including industry structure, contractual agreements, governing risks, safety, environment and the economics and timelines associated with commercial discoveries.

Dr Ketsela Tadesse, Head of Petroleum Licensing & Administration of Ministry of Mines, gave the opening remarks to representatives from government, private sector, NGOs, academia, and major media outlets.

SouthWest Energy CEO and Chairman Tewodros Ashenafi said, “The objective of the workshop was to inform and educate attendees from a range of sectors, so resources are well managed in the event of a commercial discovery of oil and gas. There was excellent feedback about the value of the day.”

The Ethiopian Government has signalled its intent to implement the Extractive Industries Transparency Initiative, although Ethiopia has not yet become a candidate country.

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