By: Mohamed Duale, Horndiplomat Editor
Horndiplomat- Genel Energy has presented Somaliland opportunities last week at the African Oil Week conference in Cape Town.
Genel has identified multiple stacked prospects, with each of them estimated to have resources of c.200 MMbbls. A program of surface oil seeps sampling and analysis reiterates the presence of a working petroleum system on the block.
Genel has increased its stake in the SL10B13 block, onshore Somaliland, to 100%, having acquired East Africa Resource Group’s 25% stake. As previously announced, a farm-out process relating to the block is now underway, with Stellar Energy Advisors appointed to run the process.
On 22nd March 2018, major oil company, Genel Energy announced via its Chief Executive Murat Ozgul that Genel may start drilling in Somaliland in 2019.
“For the long term, I really like (our) Somaliland exploration assets. It’s giving me a sense of Kurdistan 15 years ago,” Ozgul said in a phone interview. “In 2019 we may be (starting) the drilling activities.”
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