UAE company might extract oil in SL

[SahanGalbeed]

https://www.youtube.com/watch?v=o3JRR_NlpIU

[theyuusuf143]

How do you see RAK gas ? Do you think they are capable to drill something or they are just weak ass brokers.

[SahanGalbeed]

I have really no idea , I am just excited by the prospect of finding some revenues for Somaliland . It takes a good number of years before you can extract anything , but if it has the backing of the sheikh of RAK then it surely looks rather to our advantage then not , I am assuming . Genel is also part of the discussion . I am optimistic .

[X.Playa]

same old fairy tale, this oil racket has ben going on for years. I remember when Riyoole brought in seismic company that was supposedly was going to extract oil , but what happens is the company did all its explorations and archived all its findings and sold it to other companies and shared zero info with the Somalis , but they paid a kick backs to the corrupt Udub party. this is just another racket.

[theyuusuf143]

I will search how rich is the sheikh. If the brother has the capital to gamble with this exploration its good news. Some companies have no enough capital so they buy and resale their shares, we have seen those kind of companies many times. I think Ophir should hit the road they don't seem bold enough to take any more risks . they have 25% in both this two blocks.

[LeJusticier]

deja vu

[SahanGalbeed]

Anigu I am thinking the ground work has been done already . Oil companies need to gauge the situation from their advantage point before they do anything . It takes years to extract oil and unless you have a 100% confidence in the stability of the region { which is obviously not there , somaliland is not a kingdom/dictatorship and the risk of tribal uprising is there } or are going to require a bigger percentage of the oil to cover as a risk insurance { which the somalis do not have the patience for and understand } you need a cover . That's where RAK steps in , they generate revenues for ras al khaymah , not shareholders . Genel who operates in Kurdistan { another troubling region} can tag along and doesn't have to take the risk by itself . Companies with bigger name recognition cannot operate in this day and age in this political uncertainty or may be there is not enough known oil in Somaliland for them to be there

[ramzy2277]

This company have no name or business in UAE ..!!, if you mention oil and gas in UAE, then u talking about Abu Dhabi, the capital of UAE, and Oil companies in Abu Dhabi is managed by a centralized authority called ADNOC( Abu Dhabi National Oil Company ) under ADNOC there is more than 13 subsidiaries companies in all fields related to Oil and Gas, from Exploration,Drilling,Refining,....etc. Dubai oil and gas wells dried up in the late 80s or mid 90s that is why they turned to open market and be an international hub, Sharjah also have some GAS wells but not that much, they given it to some international companies to and they take some shares....other emirates( states) have no business in Oil and Gas so when u hear Ras Al khaimah Gas company don't raise ur hopes high.

some info about RAK GAS

Gas Marketing
Gas marketing is the core activity of RAK Gas. Pursuant to Amiri Decree no. 14/84 (and subsequent amendments), RAK Gas is the sole supplier of natural gas in the Emirate of Ras al Khaimah.

RAK Gas currently sources gas from the Bukha and West Bukha fields in Oman, the Umm al Quwain field in Umm al Quwain, the Dolphin project in Qatar, and the Saleh field in Ras al Khaimah. The Saleh field is 30% owned by RAK Gas, and is nearing the end of its economic life. The operator of this field is DNO.

As xplaya mentioned, it seems RAK GAS bought the sesimic survey from the previous O&G companies who came to SL,



all these cheap O&G companies are nothing but brokers for the big companies,once they found a supstantial and economically worth Oil or Gas well,they will sell their share to the highest bidder, they done the same in Kurdistan.

My concern is that ,there is no xeer in Somaliland regarding O&G rights even the areas where those marked blocks have witnessed a clash between SL government and the locals.!. we didnt agree on building a cement factory..!!..by all means ,I am happy that the security council of the UN have blocked any oil deals in Somalia/Somaliland.

I would prefer if we have a true leader who would leave this O&S for the future generations to negotiate under better conditions than us,we better focus on developing our human capital ,change our nomadic life style find new sustainable resources , our country is still untouched

[Timiro1999]

Sheeko baraleeeeey, adhigu shugux-shugux kama ilbaxo reer SL na shirkadaa inoo yimid oo saliid soo saaraya kama ilbaxaan.
Silaanyo wuu fahmay dadkan mar walba rag bay keenayan aan cidi garanahaynin meel ay ka yimaaden ayaa isku soo sawiraan mudana dadkaa ku sheekaysta.
Ma maqasheen shirkadii wadanka yimid ee M/weynaha la kulmay.
Bal kuwii hore xageebaa lagaga waramayaa, maxay arintoodii ku dambaysay.
Meel aan laysla xisaabtamahaynin weeyan ka dibna jaantaa rogan.

[Strategic]

Good news,but personally,I dont think there is OIL in any Somali Region,if there is any indication they would have drilled when there was a peace in the 80s when the demand was high,this oil myth is just a scapegoat,but there might be gas and that gas might not become commercially viable.remember PL hype and how they had the perfect geological climate? well,it turns out it became water and water is a scarce resource for them so good luck.

[theyuusuf143]

RAK Gas also holds an onshore block in Egypt, at Al Ghazaliyat, with plans to begin drilling in the second quarter of 2016

there is more good information about them in here http://www.oxfordbusinessgroup.com/over ... e-switched

Let's keep an eye on the above timeline. if they proceed to drill that Egyptian block within the next 2 months, that's positive sign.

[theyuusuf143]

Good news,but personally,I dont think there is OIL in any Somali Region,if there is any indication they would have drilled when there was a peace in the 80s when the demand was high,this oil myth is just a scapegoat,but there might be gas and that gas might not become commercially viable.remember PL hype and how they had the perfect geological climate? well,it turns out it became water and water is a scarce resource for them so good luck.

Dude if you were eating your banana in Mogadishu peacefully there was serious war in the in the north at that time. Its like all wanlaweyn folks think that The war started the moment afweyne fled from villa Somalia. They have no idea what caused him to fled

[LiquidHYDROGEN]

Err...no thanks. I don't trust Zoomalis with UN famine relief let alone billions of dollars in oil revenue -that is, if they are even clever enough to negotiate properly with O&G firms.

[JSL3000]

Good news,but personally,I dont think there is OIL in any Somali Region,if there is any indication they would have drilled when there was a peace in the 80s when the demand was high,this oil myth is just a scapegoat,but there might be gas and that gas might not become commercially viable.remember PL hype and how they had the perfect geological climate? well,it turns out it became water and water is a scarce resource for them so good luck.

Dude if you were eating your banana in Mogadishu peacefully there was serious war in the in the north at that time. Its like all wanlaweyn folks think that The war started the moment afweyne fled from villa Somalia. They have no idea what caused him to fled

exactly walanweyn history started in 1991 before that they have no clue.

[SuldaanMaplesyrup]

deja vu