Somalia moves to promote offshore exploration

Offshore staff

MOGADISHU, Somalia -- Soma Oil & Gas has completed a seismic acquisition program across the Republic of Somalia’s Offshore Evaluation Area. This followed a seismic option agreement (SOA) between the Federal Government and Soma last August.

In total Soma acquired over 20,500 km (12,738 mi) of 2D data, and the company expects processing to be
completed by the end of 2014.

Under the terms of the SOA, Soma will gift the data to the Ministry of Petroleum & Mineral Resources through the creation of a data room, along with processed and re-processed historic seismic compiled prior to 1991.

The government is looking to accelerate the pace of exploration and development activity in Somalia. Completion of this campaign, with no security incidents, also showed that international oil companies can conduct exploration work safely and efficiently in the area, the parties involved claimed.

The Ministry will evaluate the results of the program and formulate a plan to initiate further exploration work in the evaluation area and elsewhere in Somalia.

6/6/2014

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