Petroleum Africa
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Friday, September 15, 2006
Petronas, the state-owned oil and gas company of Malaysia, plans to spend an estimated $2 billion in the east African country of Ethiopia. The money will be spent on the development of the Calub and Hilala gas fields in Ethiopia’s Ogaden Basin if the company wins the tender.
While there are reports that the company has won the tender for the gas field development the company says that it is still waiting to hear from the Ethiopian government. According to the report, officials from the Ethiopian Ministry of Mines and Energy and Petronas met in Addis Ababa last week to deliberate and present proposals for the Calub and Hilala gasfield project.
Petronas is said to be unhappy with the proposal from the Ethiopian government, particularly on the royalty fee and income tax. Another meeting is planned before the end of September.
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