London-listed Genel Energy, together with partners Petrosoma and Sterling Energy, has started a 2D seismic programme over the Odewayne block onshore southern Somaliland, meeting the minimum work commitment specified for the current third exploration period.
Be the first to know – Follow us on @Saxafi
Initial results are expected late in the third quarter of this year, after which technical evaluation will start before the partners assess drillable targets, according to Sterling chief executive Eskil Jersing.
“Sponsored by the Ministry of Energy & Minerals, the survey will provide the first detailed sub-surface view in what is one of Africa’s last, untested, frontier rift basins,” said Sterling.
Genel, which operates Odewayne with a 50% stake, hopes evaluation will reveal a billion-barrel oil play, similar in size to that targeted in neighboring blocks SL-10LB and SL-13 in central Somaliland.
By Barry Morgan
About Seismic Survey
A seismic survey is conducted by creating a shock wave – a seismic wave – on the surface of the ground along a predetermined line, using an energy source. The seismic wave travels into the earth, is reflected by subsurface formations, and returns to the surface where it is recorded by receivers called geophones – similar to microphones. The seismic waves are created either by small explosive charges set off in shallow holes (“shot holes“) or by large vehicles equipped with heave plates (“Veibroseis” trucks) that vibrate on the ground. By analyzing the time it takes for the seismic waves to reflect off of subsurface formations and return to the surface, a geophysicist can map subsurface formations and anomalies and predict where oil or gas may be trapped in sufficient quantities for exploration activities.
About Genel Energy
Genel Energy is one of the largest London-listed independent oil producers and is the largest holder of reserves and resources in the Kurdistan Region of Iraq, where it has been operating for over a decade.
Genel has highly cash-generative oil production from the Taq Taq and Tawke licences, with material growth potential from other assets in the portfolio. In the first half of 2019, Genel’s working interest production averaged 37,400 barrels of oil per day.
Genel Energy also has interests in Morocco and Somaliland.