Completion Of 2D Seismic Acquisition Programme - Somalia

By Joseph R. Fonseca
Monday, June 09, 2014
Courtesy Soma Oil & Gas

 

Soma Oil & Gas Exploration Limited, the Somalia focused oil and gas exploration company, announced the completion of its offshore seismic acquisition programme which commenced in February 2014.

The seismic acquisition programme was carried out by SeaBird Exploration (“SeaBird”) and concluded in June 2014 with over 20,500 km lines of 2D seismic data having been acquired across a 122,000 sq km offshore evaluation area.  The processing of the seismic data is expected to take until late 2014 to complete. 

Soma Oil & Gas will provide the processed seismic data to the Ministry of Petroleum & Mineral Resources, Federal Government of Somalia (“the Ministry”) for use by the Ministry 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. 

Our efforts are now focused on the processing, reprocessing and interpretation of the seismic data in order to identify leads and prospects by the end of 2014.  At that point, Soma Oil & Gas will be ready to apply for PSAs in the areas of most interest to the Company.

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

H.E. Daud Mohamed Omar, Minister of Petroleum & Mineral Resources, said, "This significant 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 are continuing to diminish. The Federal Government is looking forward to further developing the hydrocarbons industry and engaging with international oil companies to conduct exploration work in Somalia.”

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

VT Halter Delivers ATB Tug to Bouchard

VT Halter Marine, Inc. announced the delivery of the M/V Morton S. Bouchard Jr., the first of the two 6,000 horsepower Twin Screw Articulated Tug Barge (ATB) tugs to Bouchard Transportation Co.

COSCO Also Eyes Greek Train Network

China's COSCO already the sole bidder for Greece's Piraeus Port. Buying both would give COSCO a European transhipment hub. China's COSCO is expected to make

Asia-Europe Box Rates Down 8 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday,

Legal

China to Enforce Low Sulphur ECA in Yangtze River Delta

Vessels calling ports in China’s Yangtze River Delta, including Shanghai, will be required to burn low sulphur fuel while at berth from April 1 this year.   China’s

COSCO Also Eyes Greek Train Network

China's COSCO already the sole bidder for Greece's Piraeus Port. Buying both would give COSCO a European transhipment hub. China's COSCO is expected to make

UAE Plans Floating LNG Import Terminal

State-owned Abu Dhabi National Oil Co. (ADNOC) plans to start a new liquefied natural gas floating import terminal (FSRU) in the second half of this year, three LNG industry sources said.

News

Kemp Joins PMSA as Vice President

The Pacific Merchant Shipping Association (PMSA) announced the hire of Carl Kemp as a Vice President based in the organization’s Long Beach office.    Kemp brings

Crowley Christens 2nd LNG-ready Product Tanker

Crowley christens second of four newly built, LNG-ready product tankers for use in U.S. coastwise trade   Crowley Maritime Corp. has christened the second of

VT Halter Delivers ATB Tug to Bouchard

VT Halter Marine, Inc. announced the delivery of the M/V Morton S. Bouchard Jr., the first of the two 6,000 horsepower Twin Screw Articulated Tug Barge (ATB) tugs to Bouchard Transportation Co.

Offshore Energy

HHI to Localise Main Equipment for Offshore Plants

Hyundai Heavy Industries and Doosan Heavy Industries Collaborate in Localizing Main Equipment for Offshore Plants   Seoul, South Korea – February 4 – Hyundai Heavy Industries (HHI),

FUGRO Wins BHP Pyrenees Contract

Fugro has been awarded a contract by BHP Billiton Petroleum Pty Ltd for the Pyrenees Phase 3 Installation Project.   The Pyrenees development is located offshore Western Australia,

Iqarus Acquires C-CHEC at Subsea Expo

Offshore and onshore health and medical solutions company Iqarus is set to acquire occupational hygiene consultancy C-CHEC to deliver a new integrated offering to global industries.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1103 sec (9 req/sec)