Wednesday, October 8, 2008

Eritrea Signs Agreements With Defba Oil Share Company On Exploration of Oil Resource

The Government of Eritrea today signed two agreements with Defba Oil Share Company on oil exploration and development.

Accordingly, the company would undertake oil exploration activities in two blocks of the Eritrean northern territorial waters.

Defba Oil Share Company has been set up through the partnership of the Eritrean government and Energy Alliance Company W.L.L.

The agreements were signed in Asmara by Mr. Tesfai Gebreslasie, Minister of Energy and Mines, on the Eritrean side, and Mr. Shi Jicheng, General Manager of Defba Oil Share Company, on the side of the company.