Soma Oil & Gas signed the Seismic Option Agreement (SOA) with the Republic of Somalia on 6 August 2013.
Under the SOA, Soma Oil & Gas committed to:
- Gathered & evaluated prior geological data, seismic and wells, and studies;
- Acquired 20,500 km of 2D seismic over 185,000 km2 offshore Somalia;
- Processed acquired seismic support the building of a data room in Mogadishu;
- Support the building of a Data Room in Mogadishu; and
- Deliver all data gathered, acquired and processed to the Federal Government with the right to apply for Production Sharing Agreements covering up to 60,000 kilometers.
Soma Oil & Gas has completed all its obligations and delivered all legacy data gathered and Soma’s acquired & processed 20,500 kilometers of 2D Seismic data at the opening ceremony of the Somali Ministry of Petroleum & Mineral Resources new Office and Data Room in Mogadishu on 9th December 2015.
The Ministry of Petroleum & Mineral Resources have appointed Spectrum ASA to market this data on their behalf.
|Acknowledgement of Completion||9 December 2015|
|Notice of Data Delivery||9 December 2015|
|Data room in Mogadishu||17 August 2015|