GAROWE, Somalia Jan 14, 2015 (Garowe Online)-Puntland government in northern Somalia has struck a deal on multi-client 2D seismic survey in offshore territories with ION Geophysical Corporation, Garowe Online reports.
Puntland President Abdiweli Mohamed Ali has witnessed the signing ceremony, pledging full backing for the first-ever program in war-torn Somalia.
US-based Corporation representatives clinched the agreement with the Director-General of Puntland Petroleum and Minerals Agency (PPMA) Isse Mohamud Farah.
In light of the vast reserves of hydrocarbons in the northeastern state, ION says the data which will cover acreages on offshore Puntland may help oil and gas exploration companies identify blocks in the near future.
Government also expects the new project ‘PuntlandSPAN’ to provide commercial oil giants with interest in the region more than 7600 km of pre-stack depth-migrated data.
“This survey will prove a highly valuable tool as Puntland begins to promote future licensing rounds for deep water oil and gas exploration,” Farah told Energy Global.
Garowe Online has learned that Puntland President and ION Geophysical Corporation clinched the agreement in Ethiopian capital of Addis Ababa in late December.
In early January, Puntland Government announced the resumption of gas and oil exploration activities.
GAROWE ONLINE
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