Gail India shows interest to explore for gas in Ethiopia
April 13, 2006 (MUMBAI) — State-owned Gail India Ltd on Thursday said it has been shortlisted by Ministry of Mines and Energy, Ethiopia, to participate in the bidding process for exploration and development of Calub and Hilala gas field in Ogaden onland basin in Ethiopia.
According to the Indian PTI news agency, Gail has submitted its ‘Expression of Interest’ along with with Gujarat State Petroleum Corporation Ltd (GSPC), the company informed the Bombay Stock Exchange.
The two gas fields are remotely located and therefore commercial exploitation of gas reserves will need setting up of gas processing facilities and a long distance gas pipeline to reach the potential markets, it said.
As all these activities fall within the company’s area of core competence and operations, the company will participate in the bidding process with full interest.
The bids are due for submission by June 10.
As per preliminary information examined by the company, it is evident that both the fields may require more exploration resulting in further enhancement in gas and condensate reserves.
(ST)