Soma Oil & Gas acquires seismic data offshore Somalia

seabird-somaThe Somalian government will be evaluating the results of the seismic acquisition programme and then develop a plan to initiate further exploration work in the evaluation area and elsewhere in the country. (Image source: Soma Oil & Gas)Somalia has announced that Soma Oil & Gas has completed the offshore seismic acquisition programme across an evaluation area of 122,000 sq km

The seismic acquisition programme was carried out by SeaBird Exploration and concluded in June 2014 with over 20,500km lines of 2D seismic data. The processing of the seismic data is expected to take until late 2014 to complete, the company said.

Soma Oil & Gas will provide the processed seismic data to the Ministry of Petroleum & Mineral Resources, for use and storage in the Ministry’s data room in Mogadishu.

Under the terms of the seismic option agreement signed by the Ministry and the company, Soma Oil & Gas has the right to apply for production sharing agreements for an area of up to 60,000 sq km.

Robert Sheppard, CEO of Soma Oil & Gas, said, “The completion of the 2D seismic acquisition programme is a significant milestone for both Soma Oil & Gas and the federal government of Somalia. The quantity and quality of seismic data acquired is at the top end of our expectations and importantly we have managed to complete the seismic acquisition programme with no security or HSE incidents.

Somalia remains a significantly under-explored region despite large recent discoveries elsewhere in East Africa and Madagascar and we are continuing to assist the government of Somalia in accelerating the development of its oil and gas potential.”

Daud Mohamed Omar, Minister of Petroleum and Mineral Resources, added that the milestone not only demonstrates the federal government’s commitment to re-opening Somalia’s oil and gas industry, which will see economic and social developments for the country and the people of Somalia, but further confirms that the historic security risks associated with Somalia were diminishing.

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