Soma ready to negotiate Somali PSA

Issue 299 - 01 May 2015
The UK’s Soma Oil & Gas says it is almost ready to transfer 2D seismic data acquired offshore Somalia to the federal government and will then seek to negotiate a production sharing agreement (PSA) covering areas it considers most prospective. Soma chief executive Robert Sheppard told an Energy Exchange forum on Somalia in London on 27 April the company had completed processing in August 2014, and was in talks with the government about transferring the data. “We are now at the point to move to the additional stage. To highlight the most prospective [areas], to shoot 3D. But to do that, we need a contract with the government, a PSA,” he said.

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