East African Parties to Deliberate Regional Oil Potential...

East African Parties to Deliberate Regional Oil Potential

Monday, 19 November 2012 07:49 Meron Tekleberhan

Various parties from the East African countries of Ethiopia, Tanzania, Kenya and Uganda are to hold a regional meeting dubbed ‘Great Rift Valley Energy Summit’ to discuss regional oil and gas potential. The two day Summit is to be held in Nairobi, Kenya from the 3rd to the 4th of December.

It is expected that government representatives, executives of international and regional oil and gas companies and Non Governmental Organizations will take this opportunity to deliberate the regional potential, goals and challenges as well as discussing projects, time scales and schedules planned for the rest of the current year and beyond in developing the regional resources.

The Summit is expected to offer a platform to discuss the untapped resources that are believed to exist in the Great Rift Valley running through Ethiopia, Eritrea, Burundi, Democratic Republic of Congo, Kenya, Djibouti, Malawi, Rwanda, Mozambique, Uganda and Tanzania according to organizers.

It is to be remembered that recent discovery of oil in the Eastern African countries of Uganda and Kenya, as well as the estimated 10 billion barrels discovered in Madagascar and natural gas reserves in Mozambique and Tanzania has alerted international oil exploration companies of the possible existence of a major hydrocarbon system in the region.

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