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Article: Somaliland to Hold the First Bid Round for Hydrocarbon Exploration.
- Article from:
- Business Wire
- Article date:
- February 19, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HARGEISA, Somaliland -- The Somaliland Ministry of Water and Mineral Resources (Ministry) announced today that the Country's first bid round for hydrocarbon concessions will open in February. The bid round will include eight concession blocks comprised of more than 89,624 square kilometers of onshore and offshore areas.
The geology off the coast of Somaliland is analogous to the oil-producing basins in nearby Yemen that have yielded several discoveries to date. Yemen's Balhaf Graben Basin and Somaliland's Berbera Basin contain striking similarities in fault trends and structural complexity. Additional indicators of hydrocarbon reserve potential are the ...