Soma Oil & Gas completes Somalia offshore seismic acquisition programme

Soma Oil & Gas Exploration has completed the Somalia offshore seismic acquisition programme across a 122,000km² evaluation area.

SeaBird Exploration carried out the seismic acquisition programme, which was started in February 2014 and completed at the start of June.

The programme was carried out with more than 20,500km lines of 2D seismic data and the processing of seismic data is anticipated to be completed by the end of 2014.

The company will provide the processed seismic data to Somalia’s Ministry of Petroleum and Mineral Resources.

As per the terms of the agreement with the ministry, Soma Oil & Gas has the right to apply for production sharing agreements for an area of approximately 60,000km².

Soma Oil & Gas CEO Robert Sheppard said: "The completion of the 2D seismic acquisition programme is a significant milestone for both Soma Oil & Gas and the Federal Government of Somalia.

"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 Minister of Petroleum and Mineral Resources H.E. Daud Mohamed Omar 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."