The First Somali License Round is OPEN...
The first Somali License Round has been described by representatives as a seminal moment in the history of both the country and its hydrocarbon industry.
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.
On 4th August 2020 the Somali Petroleum Authority (SPA) opened the country’s first ever offshore licensing round. This followed the establishment of the Authority on 31st July 2020. In February 2020, the Ministry of Petroleum and Mineral Resources of the Federal Republic of Somalia announced that His Excellency, President Mohamed Abdullahi Farmajo. This has paved the way for the commencement of the 2020 offshore licensing round which comprises 7 blocks covering 30,168 sq km.
To view the Licensing Round Pre-Announcement, please click on the images below (the presentation is in four parts).
Overview of Blocks
Under the country’s first ever licensing round,the Somali government will offer the seven offshore blocks viewed as having the most potential, in order to reap substantive benefits from the country's hydrocarbon resources. The prospective blocks for this round are numbers 152, 153, 164, 165, 177, 178, and 204.
The new 2020 Somali Petroleum Law has been designed to provide a stable, long-term legal and regulatory framework that promotes cooperation between IOCs and consortiums in a way that protects the investments of the exploration companies participating.
A revised Production Sharing Contract (PSC) model has also been designed in parallel with the 2020 round to encourage exploration, with fiscal terms reflecting TECOP (technical, economic, commercial, Operational and Political) considerations.
The License Round opened on August 4th, 2020 with bid applications to be submitted before the deadline of 12th March 2021.
Overview of Data
TGS has the only data available over the blocks of the first Offshore License Round and TGS has an exclusive agreement with the Somali Government to market this data to interested parties.
The high quality data represents the key tool to de-risking source rock presence, distribution and maturity analysis, thus allowing companies to make informed and confident bids.
TGS offers 20,000 km of long-offset 2D seismic data offshore Somalia, which has been used to de-risk source rock presence, distribution and maturity. This data complements an additional 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 to achieve optimal subsurface imaging.
For data availability, click on the following link: Discover the TGS data library
Four source rock intervals in Somalia have been identified: an pre-rift Karoo source of Triassic age; a syn-rift Jurassic source deposited in rifts formed by the break-up of the Gondwana super-continent (both highlighed below); post-rift Late Cretaceous; and Early Tertiary source rocks deposited in discrete global ocean anoxia events.
Basin modelling 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.
For more detailed information, click on the arrow below - explore the blocks on offer and gain greater insight into the available data.
Timetable of Events
Somali Licensing Round
||12 May 2020
|License Round opening
||4 August 2020
|License Round closes
||12 March 2021
Find out More
For further information - from the submission process or PSC, to in-depth details of seismic data - please contact: email@example.com
Alternatively, fill in the information request form at the top-right side of this page for any specific information you require and a representative will contact you.