The ministry of water and mineral resources in Hargeisa launched Somaliland's first hydrocarbon bid round on Feb. 19, 2009.
By OGJ editors
HOUSTON, Feb. 19 -- The ministry of water and mineral resources in Hargeisa launched Somaliland's first hydrocarbon bid round on Feb. 19, 2009.
On offer are eight land and offshore blocks totaling more than 89,624 sq km.
The ministry noted striking geological similarities between Yemen's Balhaf graben basin and Somaliland's Berbera basin. Other indicators of hydrocarbon potential are oil and gas seeps at Dagah Shabel, and most historical wells in the area contain multiple zones with shows.
In preparation for the round, TGS-NOPEC Geophysical Co. ASA shot 5,300 line-km of seismic, gravity, and magnetic data offshore and 34,700 line-km of high resolution aeromagnetic data over all known petroleum basins. This is the first new geophysical data acquired in almost 30 years.
Bids are due Aug. 15, and concessions are to be awarded on Dec. 15, 2009.