Chinese Poly Group conducting 3.7-billion USD Oil exploration in Ogaden Ethiopia


December 15, 2016) – China Poly Group Corporation said the natural gas and oil exploration work it has been undertaking in Ogaden, Somali Regional State, is fruitful.

Prime Minister Hailemariam Desalegn met with high officials of China Poly Group Corporation on Wednesday in Addis Ababa.

Poly Group Chairman Yu Baodong said on the occasion that the exploration carried out thus far is promising.

The exploration work being carried out with 3.7-billion USD will be consolidated further, Baodong said.

Besides the exploration work, the corporation has been transferring technology know-how to the manufacturing sector in Ethiopia, he added.

The chairman, who said the Ethiopian government has been supportive, added that the corporation is also working to provide electricity for 28,000 households in rural Ethiopia.

The corporation has plans to engage extensively in agriculture and similar sectors that help the Ethiopian government meet its development goals, Baodong revealed.

Prime Minister Hailemariam Desalegn for his part urged the corporation to further engage in other new areas.

The natural gas and oil exploration project is expected be finalized within four years.

The corporation has been undertaking exploration of natural gas and oil in Ogaden since 2013.

Source: ENA