Genel Energy to Acquire 2D seismic in Somaliland’s Odewayne, SL- 10B/13 licences

Odewayne and SL-10B/13 block operator Genel energy has said the acquisition of 2D seismic data onshore Somaliland is proposed for 2016.

The acquisition according to Genel has resulted from a surface seep study completed early in 2015 confirmed the outstanding potential offered by this huge acreage position.

Genel is targeting resources of over 1,000 mmbbls in blocks SL-10B and SL-13. The Odewayne block has a similar resource potential to this, targeting in order of 1,000 mmbbls.

Gravity and aeromag has already been acquired and interpreted over the entire 40,000 square km acreage.

The seismic operations in Somaliland have been temporarily suspended for a while due to a deterioration in the security environment.

“Genel continues to support the government’s efforts to provide the appropriate level of security in order to conduct future operations. Genel continues to seek a strategic partner for its Somaliland assets, in keeping with its strategy of balancing risk and reward and reducing upfront capital commitments.”

Genel Energy holds 50 percent interest in the Odewayne Block and 75 percent interest in the SL- 10B/13.