Investment Thesis Although we see risks as now skewed to the upside, our cautious view on Premier is due to near-term uncertainty around the terms of the required debt and equity financing processes. ● Completion of the BP asset acquisitions would be positive for Premier, in our view. It would add cash-generative production to the …
Premier Oil plc (PMO LN) Oil & Gas – Exploration & Production Read More »
Introduction At the end of 2016, Spectrum Geo released two long offset seismic reflection profiles across the Somalian rifted margin, in the Juba Lamu and Obbia basins respectively – part of two larger 2D surveys acquired in 2014 and 2015/16 (Stanca et al., 2016;Figure 1). In frontier areas, potential field data interpretation, in particular public …
The crustal structure along the passive margin of offshore Somalia has remained largely unknown, due to limited geological and geophysical data collection during the long period of political instability and civil war. The extent of geological information in the area has for many years been restricted to regional-scale features defined from poor quality legacy seismic …
Offshore Somalia: crustal structure and implications on thermal maturity Read More »
INTRODUCTION Exploration in Somalia began onshore in the 1950s with the drilling of several onshore wells, but no notable economic discoveries. Tragically, the collapse of the Government in 1991 ushered in a long period of political instability, where Somalia remained inaccessible to exploration companies for 25 years. During this time, the majority of Somalia’s legacy …
Offshore Somalia: Defining crustal type and its implications for prospectivity Read More »
Abstract: Interpretation of a 20 550 line km 2D seismic survey acquired in 2014 by Soma Oil and Gas in the deep water offshore area of SE Somalia has identified three previously undocumented sedimentary provinces – Jubba Deep, Mogadishu. Deep and Mid Somalia High – all of which have distinctive geological characteristics. Well and stratigraphic …
Geology and hydrocarbon potential of offshore SE Somalia Read More »
Pursuant to Articles 28 and 67 of the Transitional Federal Charter of the Somali Republic, the Transitional Federal Parliament enacts the following that shall have the force of law throughout the Somali Republic
Formation of SPC. Somalia Petroleum Corporation is established as a juridical person in the form of a corporation. The head office of Somalia Petroleum Corporation shall be at a place in Somalia that the Ministry shall designate. 9.1.2 Somalia Petroleum Corporation has, in respect of its powers, all the rights, powers, privileges and capacity of …
Power to Grant. The Somalia Petroleum Authority may conclude a Production Sharing Agreement, in respect of a specified area, with a Person or a group of Persons provided that if a group, such group has entered into a joint operating agreement approved by the SPA under Section 20.1. Each Production Sharing Agreement shall be signed …
7.1 Functions of Ministry. The Ministry shall perform the following functions: make decision on strategies, plans and policies for the development of the Petroleum industry; 7.1.2 issue regulations with respect to the management of Petroleum Operations as recommended to the Ministry by the Somalia Petroleum Authority as contemplated by this Law; 7.1.3 make decision on …
This Law applies to the Territory of Somalia.
The Somali Petroleum Authority (SPA) was established to ensure a transparent and robust regulatory framework for external investors to explore petroleum potential whilst ensuring Somalia has maximum benefit.
In line with our core principle of transparency, we will post on Twitter relevant information and welcome questions. So please follow our Twitter account at @SPASomAuthority to be part of the discussion.
