News released by Xinhuanet from Addis Ababa on September 8 (Reporter Liang Shanggang) that the oil & gas project undertaken by China POLY-GCL Petroleum Group Holdings Limited in Southeastern Ethiopia was officially commenced on September 8.
Tolesa Shaki (Ethiopian Mining Minister) said at the opening ceremony that the Ethiopian government attached great importance to cooperation with China in the field of energy development and utilization, and we would join hands with POLY-GCL in promoting the smooth progress of the project and striving for early results for the benefits of people in the both countries.
Zhang Lin (Commercial Counselor of the Chinese Embassy in Ethiopia) said that with the continuous enhancement of economic and trade cooperation between China and Ethiopia, China has become the largest trading partner and the most important source of investment for Ethiopia, and he believed that the smooth progress of POLY-GCL Oil & Gas Project in Ethiopia will further promote cooperation between the two countries in the investment field.
Yu Baodong (President of POLY-GCL Petroleum Group) said the successful drilling of the first development evaluation well has laid a solid foundation for the preparation of capacity building, acquisition of trial mining data and research of reservoir engineering and, serving as a benchmark in evaluating the scale, production capacity and economic value of regional oil & gas fields, it is of extraordinary significance to the official completion and operation of the oil & gas project undertaken by GCL Group in Ethiopia.
In November 2013, POLY-GCL and Ethiopian Mining Ministry decided to invest and develop the oil & gas project in the Ogaden Region of Southeastern Ethiopia.
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