Somaliland: Amended production sharing agreements signed
HARGEISA — Somaliland Minister of Mining, Energy and Water Resource Hussein Abdi Dualeh has announced the execution of an amendment to the production sharing Agreement (PSA) with Ophir Energy plc (Ophir) and Ras al Khaimah Gas company LLC (RAKGAS), for the exploration of Block SL9 and SL12 respectively.
The Amendment includes the awarding of additional acreage to Ophir and RAKGAS in lieu of signature bonus, the payments of surface rent, a participating interest and an improved work program.
Speaking during the signing ceremony Mr. Dualeh said, “we are pleased to continue our partnership with OPHIR as we look to develop the oil and gas industry in Somaliland and we are looking forward for future cooperation.”
Calling it a “highly prospective and unexplored region” Jeff Clarke, Ophir representative, welcomed the deal saying his company was pleased to be working with the Somaliland government and RAKGAS.
The company (OPHIR) had earlier conducted and acquired 2D seismic data offshore after completing an Aeromagnetic survey onshore in Q1 2008. The group says they will complete and process a further 750KM of 2D data as they commence towards drilling in Somaliland.
Established in 1984 RAK Gas LLC is the state natural gas utility of the Emirate of Ras al Khaimah in the UAE.
Ophir Energy plc was founded in 2004 in the UK and is the incorporated holding company of a group of companies with oil and gas exploration assets in a number of African states.
Goth Mohamed Goth
May 12, 2012