Offshore Somalia remains one of the last truly frontier oil & gas basins in the World, with only two exploration wells, drilled offshore along the 1,000 km-long margin. It could become one of the most significant hydrocarbon plays in offshore East Africa.
The 2020 Somali Petroleum Law has been designed to provide a stable, long-term legal and regulatory framework that promotes cooperation between IOCs and consortiums to protect the investments of the exploration companies participating.
A revised Production Sharing Contract (PSC) model and Tender Protocol documentation have also been designed in parallel with the 2020 round to encourage exploration. Fiscal terms reflect TECOP (technical, economic, commercial, Operational, and Political) considerations.
First Somali License Round
The first Somali License Round has been described by commentators as a seminal moment in the country's history and its hydrocarbon industry.
In August 2020, the Somali Petroleum Authority (SPA) oversaw the opening of the country’s first-ever offshore licensing round comprising 7 blocks covering over 30,000 square km. This followed the establishment of the Authority and approval of the Petroleum Law by the Upper and Lower Houses of the Federal Parliament.
Following multiple requests from investors and international oil and gas companies, the license round deadline has been extended.
Our Data Coverage
TGS holds the only seismic data available over the blocks of this License Round and has an exclusive agreement with the Somali Government to market this data to interested parties.
TGS offers 20,000 km of long-offset 2D data offshore Somalia, which has been used to de-risk source rock presence, distribution, and maturity, allowing companies to make informed and confident bids. This data complements an existing 20,000 km 2D survey also offered by TGS.
The survey design, which covers water depths of 30 m to 4,000 m, has allowed for seismic coverage over the shelf, slope, and basin floor with dip, strike, and recording time intervals suitable for defining a range of leads and prospects. Modern processing algorithms were applied to the raw data for optimal subsurface imaging.
Four source rock intervals in Somalia have been identified: a pre-rift Karoo source of Triassic age; a syn-rift Jurassic source deposited in rifts formed by the breakup of the Gondwana super-continent (both highlighted below); post-rift Late Cretaceous; and Early Tertiary source rocks deposited in discrete global ocean anoxia events.
Basin modeling has identified the potential for all four of these source environments to be (or have been) mature for Oil and Gas generation in places across the Somalian offshore.
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