NewAge made an oil and gas discovery in the Ogaden licence in 2014. This discovery is close to the Calub and Hilala gas fields, the only significant discoveries to date in Ethiopia, from which Poly GCL, the operator of these fields, has contracted to export the gas via an LNG development in Djibouti.
NewAge operates the Ogaden licence in Ethiopia. The Adigala block is currently under negotiation with the Ethiopian Government
NewAge is currently seeking a joint venture partner for the Ogaden block and actively reviewing commercialisation options for the gas discovery in El-Kuran
EK-3 discovery well
Addis Ababa office
Sakson drilling rig
Madhar Health Centre (CSR project)
|Ogaden – Block 8
|NewAge (100%) – under negotiation
New Age in Ethiopia
Ogaden farm-in for 15% licence interest
Ogaden 2D seismic survey interpreted
Ogaden operatorship transferred to NewAge
Licence interest increased to 40%
Ogaden licence interest increased to 57.1%
El Kuran-3 well drilled and tested
Ogaden licence interest increased to 100%2020
Farmout process ongoing. Reviewing gas commercialisation options
In 2008, NewAge farmed into the Ogaden Basin blocks. Our recent focus has been on Block 8 to probe the potential suggested by seismic data from our 2D survey and earlier drilling. Testing of the 2014 El Kuran-3 well, which penetrated several intervals containing oil, gas and condensate, confirmed the El Kuran discovery.
El Kuran-3 Discovery Well
Development options include looking for gas monitsation options including both small scale domestic and LNG export projects in conjunction with other operators.