By: Georgina Mallory
WASHINGTON DC (Somalilandsun) – The Government of Somaliland announced today that it has entered into a Production Sharing Contract (PSC) covering Block SL18 onshore Somaliland, with the Norwegian oil and gas company DNO International.
The President of Somaliland, H.E. Ahmed M. Mohamoud Silanyo, and DNO International´s Executive Chairman, Bijan Mossavar-Rahmani, attended the signing ceremony in the Washington, D.C. area yesterday.
H.E. Hussein Abdi Dualeh, Somaliland’s Minister of Mining, Energy, and Water Resources, who was also present at the signing ceremony, said:
“We are delighted to be entering into this oil & gas exploration contract with DNO International. DNO is the third international oil company to acquire petroleum exploration acreage in Somaliland during the past three years and more companies continue to show interest in our hydrocarbon assets. This contract is further proof of the confidence international investors have in Somaliland as a frontier exploration destination. In addition to its hydrocarbon reserves potential, Somaliland is strategically positioned to become a regional energy hub within East Africa, because of its geographical position, deep sea ports and long coastline. Our Government continues to send out a strong message that we are open for business and this is beginning to pay dividends.”
Mossavar-Rahmani said: “This 12,000 square kilometer block adds substantial exploration acreage to DNO International’s portfolio and in an area that is both prospective and undrilled.”
He added that Somaliland falls within the Company’s geographic and geological comfort zones: “We have been active across the Gulf of Aden in Yemen since the late 1990s.”
The Company has initiated studies on Block SL18 ahead of an extensive seismic program planned for 2014.
The President of the Republic of Somaliland Ahmed Mohamed Silanyo and his delegation arrived in Washington, D.C. on Saturday 20th April. During their visit, President Silanyo will also be meeting with a number of U.S. officials, Members of Congress and others, including Under Secretary of State Wendy Sherman and Assistant Secretary of State for African Affairs Donald Yamamoto. The President will also meet with senior officials at the Department of Defense. President Silanyo delivered a major policy address at The Atlantic Council of the United States on Monday 22nd April and will conclude his visit by meeting with Somaliland expatriates residing in the U.S.
Somaliland has been campaigning to achieve international recognition as an independent nation state since 1991. Somaliland maintains that recognition would not only bring major benefits to the people of Somaliland; it would directly serve the vital strategic interests of the international community. By accepting Somaliland’s strong legal case for recognition, the international community would enhance security, drive economic development and entrench democracy in one of the world’s most unstable regions. https://twitter.com/Somalilandgovt
DNO International ASA is an Oslo-listed, Middle East and North Africa focused, oil and gas company holding stakes in 18 licenses in various stages of exploration, development and production both onshore and offshore in the Kurdistan Region of Iraq, the Republic of Yemen, the Sultanate of Oman, the United Arab Emirates, the Tunisian Republic and Somaliland. http://www.dno.no