Search results

General

Type

Sector

Regions

Countries

Sort options

123 results found for your search

Free

Abu Dhabi’s Mubadala Petroleum has signed a co-operation agreement with the Somali Ministry of Petroleum and Mineral Resources aimed at building capacity. Mubadala, part of Abu Dhabi sovereign wealth fund Mubadala Development Company, which is led by Crown Prince Mohammed Bin Zayed Al-Nahyan, said the agreement was “aimed at sharing knowledge, increasing the strength of the Somali ministry and its staff”. The agreement follows a deal reached in August 2013 with UK-based Soma Oil & Gas to acquire seismic data in exchange for exploration rights “The focus of the deal is working together on information sharing and to improve the quality of the ministry staff. We are building starting from scratch, the capacity of the ministry is growing, but it needs to be properly improved,” ministry director-general Farah Abdi Hassan told African Energy.

Somalia
Subscriber

Soma Oil & Gas, led by former UK Conservative party leader Michael Howard, has secured an equity investment of $50m from British Virgin Islands-registered private investment company Winter Sky. Soma has an agreement with the Somali Federal Government to acquire substantial acreage in exchange for shooting seismic, (AE 261/4), and says the funding means it can finalise a contract for a planned 2D exploration programme. “Negotiations with a small number of seismic contractors are at an advanced stage, and Soma expects to make an appointment soon. The seismic work programme will commence within Q1 2014,” a company spokeswoman told African Energy.

Somalia
Issue 265 - 08 November 2013

Somalia: Central bank governor resigns

Subscriber

Central bank governor Yussur Abrar, the first woman to occupy the post, has resigned after only seven weeks in the job, citing corruption concerns. In a letter to Somali President Hassan Sheikh Mohamud, widely reported in the media, she said that, from the moment she was appointed, she had “continuously been asked to sanction deals and violate my fiduciary responsibility to the Somali people as head of the nation’s monetary authority”. She said the deals “put… frozen assets at risk and open the door to corruption”.

Somalia
Free

A new company specialising in acreage in aspiring independent states has teamed up with a firm owned by a Puntland presidential candidate to explore a block offshore Somalia, writes William Macpherson. Belize-registered Kilimanjaro Capital has announced a farm-in agreement with Amsas Consulting, owned by Puntland 2014 presidential election candidate Dr Ali Abdullahi, for the Amsas-Coriole-Afgoye Block, which is presently under force majeure. Kilimanjaro will obtain a 5% non-working interest in the block,

Somalia
Subscriber

Genel Energy, the Nathaniel Rothschild-backed exploration company run by former BP chief executive Tony Hayward, has withdrawn its staff from Somaliland citing security concerns. As the territory itself has been untroubled by terrorist attacks in recent times, this may have been a response to broader concerns about the Somalia-based Islamist group Al-Shabaab which launched a devastating attack on Nairobi’s Westgate shopping centre in late September. “In the face of a deteriorating security situation, we are temporarily suspending our seismic operations,” a company spokesman told African Energy.

Somalia
Free

A company headed by former UK Conservative Party chief Michael Howard has won substantial rights to Somali exploration acreage in exchange for funding seismic acquisition. With delays to a promised new oil law, and no sign of a planned licensing round, conspiracy theories abound, but Soma argues that the deal is exactly what the country needs. “The government aims to accelerate the pace of exploration and development activity and open up the country’s hydrocarbons industry,” said a company spokesman. “Soma’s work will demonstrate to the IOCs that it is possible operationally to work in the country and thereby encourage the IOCs to recommence their work programmes.”

Somalia
Issue 260 - 09 August 2013

New explorer focuses on Somalia

Subscriber

A company led by former UK Conservative Party leader Lord Howard has signed an agreement to help develop Somalia’s hydrocarbons sector. In return for exploration rights for prospective areas, Soma Oil and Gas Exploration will acquire new seismic and reprocess historic seismic, with a view to creating a data room. The company was set up this year with Howard, who signed the agreement in Mogadishu, as non-executive chairman and BP man Robert Sheppard chief executive.

Somalia
Subscriber

Nine months of improved security has engendered a cautious sense of optimism, but oil and gas exploration plans face major obstacles, writes William Macpherson. Somalia’s fortunes seem to have improved since the election last year of President Hassan Sheikh Mohamud, a former activist and political outsider. Islamic militants of Al Shabaab, who have controlled large swathes of the country for several years, have suffered a series of military setbacks.

Somalia
Subscriber

Range Resources has proposed an all-share merger with Frank Timis’ International Petroleum to create a company focused on Trinidad, Russia and onshore Africa. The merger would offer three Range ordinary shares for every two International Petroleum ordinary shares, valuing International Petroleum at some A$105m (US$108m). International Petroleum has assets in Russia, Kazakhstan, and Niger, while Range has assets in Puntland and a main focus in Trinidad and Texas.

Somalia | Niger
Free

The government of Somaliland has announced a production sharing contract (PSC) with Norway’s DNO International for onshore Block SL18. The PSC was signed by Somaliland president Ahmed Mohamoud Silanyo and DNO International executive chairman Bijan Mossavar-Rahmani. DNO has initiated studies on the 12,000km2 block ahead of a seismic programme planned for 2014. Genel Energy and Ophir Energy already have acreage in the self-declared republic, while DNO has acreage across the Gulf of Aden in Yemen.

Somalia
Subscriber

Former BP boss Tony Hayward’s Genel Energy has agreed to farm into Jacka Resources’ Odewayne Block in the breakaway Republic of Somaliland, taking a 50% stake. Genel said it would become operator of the block and will carry Jacka and its partner Petrosoma through 1,500km of 2D seismic and the drilling of an exploration well, at a cost of around $50m.

Somalia
Issue 242 - 01 November 2012

Government keen to speed up licensing

Subscriber

Somalia’s new government is aiming for a quick resolution of its oil licensing issues so that it can kick-start investment, and hopes to lure back diaspora Somalis with relevant skills. Ministry of Water, Energy, Petroleum and Mineral Resources senior adviser Abdullahi Haider told Global Pacific & Partners’ Africa Independents Forum that when appointed, one of the new minister’s first tasks will be to send letters of notification to the companies that held licences before the civil war, inviting them to return to their acreage

Somalia
Subscriber

The new federal government, due to be named any day, plans to invite companies that held acreage before the country’s civil war to return and resume exploration. While this may be good news for development, it could cause confusion for acreage licensed by the local authorities in Somaliland and Puntland, writes Thalia Griffiths.

Kenya | Somalia
Issue 238 - 07 September 2012

Somalia: Puntland well fails

Subscriber

Operator Horn Petroleum is plugging and abandoning its Shabeel North-1 well after a drill stem test of the Upper Cretaceous Jesomma sands produced only water.

Somalia
Subscriber

Kenya has issued licences for seven of its remaining 12 open exploration blocks as Tullow Oil announces more positive results from the Ngamia well. Italy’s Eni said it had been awarded production-sharing contracts (PSCs) for new blocks L21, L23 and L24 in the deep and ultra-deep waters of the Lamu Basin, while Total has taken L22 (AE 223/15).

Kenya | Somalia