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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (2563)6/23/2001 1:47:50 PM
From: Tomas   of 2742
 
Horn of Africa sounds for new E&P drives
Upstream, June 22
Barry Morgan

Member states of the regional Intergovernmental Authority on Development (IGAD) have ordered a new drive to co-ordinate and promote oil and gas exploration in the troubled Horn of Africa.

Djibouti-based IGAD - which comprises Ethiopia, Eritrea, Sudan, Kenya and Somalia - has even established an independent division to handle the initiative in an area dogged by perceptions of political instability.

Despite setbacks in Eritrea and strife in the Greater Somalia sub-region, oil suitors are trickling back to the patch now that the Islamist regime in Khartoum has brought massive reserves in southern Sudan into production.

Companies are waiting in the sidelines to return to Somali where civil strife continues to prevent effective administration.

"Discussions focusing on oil and gas have now begun at expert committee level within the IGAD secretariat," according to natural resources and energy section chief Maina Karab, a Kenyan-born environmental scientist.

It is believed that a supra-national oil and gas framework would encourage companies to take the plunge into the higher risk plays.

After several attempts to raise interest in the former French colony, Djibouti's Ministry of Mines and Energy hopes explorers can assess its potential through initiatives which offer promise of greater security.
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