DNO inks Somaliland production sharing deal
Oslo, April 23, 2013
DNO International, the Norwegian oil and gas company, said it has entered into a production sharing contract (PSC) covering block SL18 onshore Somaliland adding substantial exploration acreage to its portfolio.
The President of Somaliland, Ahmed M. Mohamoud Silanyo, and DNO International's executive chairman, Bijan Mossavar-Rahmani, attended the signing ceremony in Washington, D.C.
"The 12,000 sq km block adds substantial exploration acreage to DNO's portfolio and in an area that is both prospective and undrilled," said Mossavar-Rahmani.
He pointed out 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.
DNO International is an Oslo-listed, Mena-focused oil and gas company holding stakes in 18 licenses in various stages of exploration, development and production both onshore and offshore. The company has a major presence in the UAE, Oman, Kurdistan, Yemen, Tunisia and Somaliland.-TradeArabia News Service
More Energy, Oil & Gas Stories
- Egypt will get oil aid from Arab states
- New technology for Bahrain's gas industry to save $300m
- Innovations key focus at Geoscience expo
- Iran seals gas export deal with Oman
- Total unit inks Elf Lubricants agreement
- Opec raises forecast for 2014 global oil demand
- Mitsui joins DME as trading member
- GE Power Conversion wins major SEC order
- Basra Light crude exports to rebound in April
- Aramco to produce unconventional gas for projects
- Alstom opens smart grid centre in Dubai
- Experts discuss key geosciences issues
- Egypt to permit factories to use coal for energy
- ME oil, gas transaction value up 15pc
- Victrex to showcase new product in Paris
- Aramco JV puts off giant refinery overhaul to 2015
- Libya threatens to bomb N Korean tanker
- Bahrain 'producing 850MW of surplus power'
- 2,000 experts for Bahrain geosciences summit
- Libyan rebels start oil exports, bypassing govt
- Dubai drilling company set for London IPO
- Opec output soars on higher Iraq exports
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director