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

Contracts

LNG-fueled Bulker Ordered from Korea

Hyundai Mipo Dockyard (HMD) has signed a contract to build a 50,000 dwt bulk carrier with ILSHIN LOGISTICS. The project is a collaboration between POSCO and ILSHIN

Broad Declines drag Baltic Index down

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on lower rates for capesize, panamax and supramax vessels.

MOL Makes Fleet-wide Migration to Fleet Xpress

Fleet Xpress will deliver data intelligence to drive smarter and greener shipping operations   26 July 2016: Inmarsat (LSE:ISAT.L), the leading provider of global

Legal

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

U.S. Backs S. China Sea Bilateral Talks

U.S. Secretary of State Kerry says backs bilateral talks; Philippines says dispute does not involve United States. U.S. Secretary of State John Kerry said on

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Offshore

China Asks U.S. to Support Resumption of Talks with Philippines

China's foreign minister has asked the U.S. secretary of state John Kerry to support the resumption of talks between China and the Philippines over the South China Sea,

VesselValue.com: $28.4B Worth of Ships Delivered to Date

As the calendar now indicates we have passed the half year mark on 2016, VesselValue.com offers insight on the number and value of all the 2016 built vessels that

MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for

Energy

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

Fuel Consumption, Emissions Monitoring Software Updated

As part of the ongoing Blue Star Delos Renewable Energy Innovation Project, Eco Marine Power (EMP) stated that the Aquarius Management & Automation System (MAS)

Los Angeles Pushes for Valero Terminal Improvements

The Port of Los Angeles has released an Initial Study/Notice of Preparation (IS/NOP) — the first step in the Environmental Impact Report (EIR) process — for a Marine

News

NASSCO Delivers Garden State to APT

Marking its seventh ship delivery in the span of just over a year, General Dynamics NASSCO has delivered the newly built ECO Class tanker Garden State for American Petroleum Tankers.

Long Beach Awards Sovcomflot for Green Shipping

PAO Sovcomflot earned the Green Environmental Achievement Award from California's Port of Long Beach, recognizing the shipper for its ongoing commitment to environmental stewardship.

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

Offshore Energy

Eni Cancels Vessel Deal with Viking Supply Ships

Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS “Njord Viking”. The vessel has been working for

MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators 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: 0.1350 sec (7 req/sec)