Somalia | Oil, Gas & other Exploration News

[bantugbro]

Originally Posted by Constantine MMX

I'm on the phone, so I can't post the article, but Companies from South Korea, China, Japan, Turkey and others are rushing to Puntland for infrastructure projects.

The longest phone call ever...

[ja'far]

Originally Posted by bantugbro

The longest phone call ever...

[juzme123]

Originally Posted by Constantine MMX

I'm on the phone, so I can't post the article, but Companies from South Korea, China, Japan, Turkey and others are rushing to Puntland for infrastructure projects.

Yes, though I do not know the precise details, I have heard a lot of foreign companies are showing interest in carrying out projects in Puntland.

They are pre-empting the finding of the oil

[Xusein]

Red Emperor mulling decision on second Puntland well

Red Emperor Resources (LON:RMP) said today pilot drilling has started on a second well on its Puntland project in Somalia.

Drilling started earlier this month at the Shabeel-1 well in the Dharoor Valley, the first exploration well in Puntland for twenty years

Red Emperor added today that pilot drilling operations have also commenced at the Shabeel North-1 well, with the setting of 30 inch surface casing and the drilling of a 50-meter pilot hole.

Red Emperor has an option over this second well and will make a decision whether to participate fully over the coming period.

http://www.proactiveinvestors.co.uk/...ell-38411.html

[Janub]

A second well in the same basin greatly increases the likelihood of hitting oil, should be interesting to see the results of both wells in the coming weeks and months.

[Constantine MMX]

Originally Posted by Xusein

You're leaving us in suspense, sxb.

I'm forced to use my phone because my laptop died, RIP. I'm getting a new one, hopefully then I can post more prolific, now small paragraphs take me ages, and my fingers hurt because of cramp lol.

[Xusein]

I am waiting till then.

[Constantine MMX]

1100m reached in 19 days:

Howlihii shidaal qodista Puntland oo si habsami leh u socda.



Waxaa maalintii 19-aad galay howlaha shidaal qodista ee laga wado dooxada Dharoor ee gobolka Bari.

Siciid Faarax Yare oo ah mas’uul ka tirsan shirkadda shidaal qodista wada ee Africa Oil oo maanta si kooban warbaahinta Horseed Media xafiiskeeda magaalada Boosaaso ula hadlay ayaa ka warbixiyey halka ay wax marayaan.

Mr Siciid wuxuu sheegay in Riiggii qodaalka wadey uu dhulka dalooliyey masaafo gaareysa 1100m, isagoo intaas ku daray in saadaashu ay ka weyntahay intii ay horay u ahayd, laguna rajo weyn yahay in la gaaro natiijo aad loogu farxo.

Siciid Faarax ayaa dhinaca kale mar aan wax weydiiney tirada dadka Soomaalida ah ee fursadaha shaqo ka helay howlaha shidaal qodista ee ay shirkadoodu wado sheegay inay jiraan dhalinyaro aad u tira badan oo ka shaqeeya inkasta oo uu ka gaabsaday inuu sheego tirada guud ee dadka ay Africa Oil shaqaaleysey.

16-kii bishii lasoo dhaafay ee Jen/2012 ayey ahayd markii ugu horeysey ee dooxada Dharoor ee Puntland laga bilaabay qodaalka ceelkii ugu horeeyey ee shidaal laga soo saarayo Soomaaliya, waxaana sahan hordhac ah oo la sameeyey lagu ogaadey in goobta shidaalka laga qodayo uu ku jiro keyd gaaraya in ka badan 2-Bilyan oo Fuusto. - Source

[Constantine MMX]

Interesting article, title seems premature though:

Major Oil Strike in Somalia

By Hirsi Fiqi

According to contacts working at an exploration site in Somalia’s northern Bari region, itself a region within the semi-autonomous Puntland state authority, drilling teams at the Shabeel-1 well have already struck oil on the second stacked target with an API gravity of 37 degrees, signaling medium to light crude oil according to an onsite hydrometer. On February 4, Radio Horseed spoke with Africa Oil supervisor Said Farrah Yare who confirmed that a depth of 1,100 meters had been reached, and he had more to say. The following text is an excerpt from the Radio Horseed report, translated from Somali.

We have reached a target depth of 1,100 meters with the drilling rig, and the results thus far are better than expected. We expect in the coming period to reach a result that will bring immense and surprising joy.

Around the same time, explorers in Angola announced that they had impacted fossil fuels at depths of around 400 meters, which Puntland should have surpassed several weeks ago, making the latest developments within the realm of possibility. At this point, anything beyond the confirmed 1,100-meter target on February 4 is the last strong piece of information coming from the operations, but the plausibility of oil having already been discovered is very strong.

On many occasions the Puntland administration and the exploration teams have worked in silence for security reasons. It wasn’t confirmed until the week of January 12 that drilling equipment had been arriving at Bosaso, the main port city in Puntland, just days ahead of the official spudding.

There is a history of Puntland and the oil companies playing brilliant mind games on the public when it comes to drilling, but the surprises they deliver are always spectacular, and more surprises are definitely on the horizon when considering the upcoming London-based conference on February 23, where oil will be a huge talking point and a major point of leverage for the Puntland administration. - Source

[Xusein]

I thought it would take longer to find it, but amazing news nonetheless!

[Ayatulahi]

Yet it is the extent of oil deposits beneath the Indian Ocean that is most exciting Somali officials. One said the potential was comparable to that of Kuwait, which has more than 100bn barrels of proven oil reserves. If true, the deposits would eclipse Nigeria's reserves – 37.2bn barrels – and make Somalia the seventh largest oil-rich nation.

http://www.guardian.co.uk/world/2012...l-dash-somalia

[Deebo.]

If true ...allahu akbar !!!!

[ja'far]

Originally Posted by Deebo.

If true ...allahu akbar !!!!

Time will tell.

[xJamaax]

Let's wait for everything to be confirmed. I don't like these news which most of the time doesn't yield anything of significant.

[Ayatulahi]

[xJamaax]

(empty space)

[Hilal]

No S***. Doesn't so called Somalia have the longest coastline in Africa stretching all the way from Bab el Mandeb to all the way near Oman in the northeast and then South going all the way to Kenya? Logic alone would have said so about the offshore oil in that country let alone the inland. I am not too keen on oil though since it creates problems. Also this should be moved to the appropriate section.

[Naijaborn]

Somalia cant eclipse Nigeria in Oil reserves, just in one day like that..... that oilfield will have to be some MEGA SUPER DUPER Magnificent field.

eve at that, I doubt the possibility of it.

[Naijaborn]

Originally Posted by Hilal

No S***. Doesn't so called Somalia have the longest coastline in Africa stretching all the way from Bab el Mandeb to all the way near Oman in the northeast and then South going all the way to Kenya? Logic alone would have said so about the offshore oil in that country let alone the inland. I am not too keen on oil though since it creates problems. Also this should be moved to the appropriate section.

Long coastline doesn't automatically translate to Oil...

Australia and Japan, are testimony.

THE iRONY, cOUNTRIES LIKE qATAR OR kUWAIT HARDLY HAVE ANY cOASTLINE, AND THEY HAVE huge DEPOSITS, OF THE THING..... iTS ALL ABOUT THE GEOGRAPHY.

[Yoniii]

David Cameron last week hosted an international conference on Somalia, pledging more aid, financial help and measures to tackle terrorism. The summit followed a surprise visit by the foreign secretary, William Hague, to Mogadishu, the Somali capital, where he talked about "the beginnings of an opportunity'' to rebuild the country.

The Observer can reveal that, away from the public focus of last week's summit, talks are going on between British officials and Somali counterparts over exploiting oil reserves that have been explored in the arid north-eastern region of the country. Abdulkadir Abdi Hashi, minister for international cooperation in Puntland, north-east Somalia – where the first oil is expected to be extracted next month – said: "We have spoken to a number of UK officials, some have offered to help us with the future management of oil revenues. They will help us build our capacity to maximise future earnings from the oil industry."

British involvement in the future Somali oil industry would be a boon for the UK economy and comes at a time when the world is increasingly concerned about the actions of Iran, the second-biggest oil producer in Opec.

That explains UK's sudden interest with last weeks conference. Hopefully the political situation will be solved before the cash starts flowing.

Originally Posted by Ayatulahi