Delonex Energy Awarded Exploration Licence in Ethiopia
London, Addis Ababa, Nairobi, 25th August 2014 – Delonex Energy is pleased to announce that it has been awarded an exploration license in Ethiopia.
The license covers Blocks 18, 19 and 21 located in the Abred-Ferfer area, Ethiopia with a total acreage of 29,865 km2. The license covers an initial exploration period of three years with a provision for two extensions of two years each.
Delonex Energy is leveraging its technical expertise, proven project execution skills and strong balance sheet to fast track the exploration and development of hydrocarbons for the benefit of our host nations.
Rahul Dhir, CEO of Delonex Energy, commented, “We thank the Government of Ethiopia for awarding us an exploration license in the Abred-Ferfer area. We have designed a comprehensive exploration programme leveraging best-in-class technology, to test the oil & gas potential in the region. We will work closely with the Ethiopian government and local communities, to ensure this work programme is implemented rapidly and in line with highest standards of Environmental, Social and Corporate Governance.”
About Delonex Energy
Delonex Energy is a leading oil and gas exploration company focused on Sub Saharan Africa. The Company’s vision is to unlock the hydrocarbon potential of the countries where we operate, and to create value for host governments. The Company is led by CEO Rahul Dhir, Executive Director David Ginger, CFO Ajay Gupta and a highly experienced team with a proven track record in exploration, development and production across the globe. Delonex Energy was established in 2013 with investment of up to $600m led by Warburg Pincus, a global private equity firm, and the IFC, a member of the World Bank Group. The Company is committed to the highest standards of Health, Safety, Environmental, Social and Corporate Governance, and has a strong focus on promoting community development to create sustainable value. Delonex Energy is headquartered in London, with subsidiaries in UK, India and Kenya.
Stephen Torode, Regional Director, +254 733 700720