Hargeisa, 16 June 2009 – Somaliland is giving suitors an extra three months to submit bids in its debut licensing round, with the Ministry of Water & Mineral Resources pushing the deadline back until December.
The deadline for final submission of bids is now 15 December, rather than August, with bids due to be opened on 19 February next year.
Concessions will now be awarded on 15 March next year instead of in December.
The round includes eight concession blocks covering more than 89,624 square kilometres in both on- and offshore plays.
“The geology off the coast of Somaliland is analogous to the oil-producing basins in nearby Yemen that have yielded several discoveries to date,” the ministry in a statement.
“Yemen’s Balhaf Graben basin and Somaliland’s Berbera basin contain similarities in fault trends and structural complexity.”
Ahead of the round, Norway’s TGS-Nopec shot 5300 kilometres of seismic, gravity and magnetic data in the offshore areas and 34,700 kilometers of high resolution aeromagnetic data of the onshore areas.
The surveys mark the first geophysical data acquired in Somaliland for almost 30 years.
I hope something comes out of it.
not only good but it is great acheivement of our state.
We hope that inshallah.
My biggest concern isnt , weather or not its an acheivement for our country. But if greed for what is gained, would result to theft, conflict and even troublistic war. *(Ya Allah…please help our leadership to over come their greed…for its only you that knows the possable out come…Ya Allah…if the outcome is going to be bloody…and if its going to course death between my muslim bothers and sisters…I ask of you to take it all back and let there be no oil-production of any kind…Ameen)
I agree with AbdiKarim at the end of the day who is going to benefit? Is the business men involed and goverment? All I do know is that the people of the land are not going to benefit the rich get richer and the ecconmic gap increase. This is not good for Somaliland its only good for the fortunate few.
The measure of a nations success is measured against the poverty gap, so deals like this can only help or worsten the situation