{"id":11880,"date":"2022-02-21T20:19:06","date_gmt":"2022-02-21T20:19:06","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=11880"},"modified":"2022-02-21T20:58:27","modified_gmt":"2022-02-21T20:58:27","slug":"somalia-coastline-exploration-signs-seven-production-sharing-agreements","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/somalia-coastline-exploration-signs-seven-production-sharing-agreements\/","title":{"rendered":"SOMALIA: Coastline Exploration Signs Seven PSA&#8217;s Amid Rejection from President and PM"},"content":{"rendered":"<p>Coastline Exploration has signed seven Production Sharing Agreements (PSAs) covering offshore, deep-water blocks of the Federal Republic of\u00a0<span class=\"xn-location\">Somalia<\/span>. These PSAs enable Coastline to proceed with plans to explore for oil and gas on the many prospects and leads identified in these offshore blocks.<\/p>\n<p>The announcement was confirmed by Somalia&#8217;s Minister of Petroleum &amp; Mineral Resources H.E Eng. Abdirashid M. Ahmed on his official twitter account terming a victory for the Somali people.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We are pleased to announce that we have signed 7 Production Sharing Agreements with COASTLINE EXPLORATION LTD. It is a victory for the Somali people.<br \/>\nI thank the President of FGS for supporting the process and encouraging us to complete this task. <a href=\"https:\/\/t.co\/MZgyzotCXN\">pic.twitter.com\/MZgyzotCXN<\/a><\/p>\n<p>\u2014 H.E Eng. Abdirashid M. Ahmed (@EngAbdirashidd) <a href=\"https:\/\/twitter.com\/EngAbdirashidd\/status\/1495076382996668421?ref_src=twsrc%5Etfw\">February 19, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>&#8220;This is a huge moment for Somalia\u00a0 and I wish to congratulat the SPA for the significant progress it has made since its establishment in July 2020. It gives me great pleasure to sign the first of many PSAs that will accelerate our roadmap\u00a0 of hydrocarbon exploration offshore Somalia. Exploratioj will be commencing soon which could lead to significant discoveries of hydrocarbons and the development of an important industry in Somalia and have a direct impact on our people,&#8221; H.E Eng. Abdirashid M. Ahmed said.<\/p>\n<p>W.\u00a0<span class=\"xn-person\">Richard Anderson<\/span>, Chief Executive of Coastline, commented, &#8220;<span class=\"xn-location\">Somalia<\/span> contains the largest remaining unexplored set of basins situated in warm waters in the world. We are honored and excited to be part of its future development. The Government of\u00a0<span class=\"xn-location\">Somalia<\/span>\u00a0and the Ministry of Petroleum have spent a great deal of time and effort to ensure the country has the proper legal and administrative infrastructure to support oil and gas exploration with the passing of the Petroleum Law, adoption of the Revenue Sharing Agreement among the Federal Government and its Members States and the establishment of the Somali Petroleum Authority to provide continuing support for the anticipated growth in the sector.&#8221;<\/p>\n<p>Jake UIrich, Coastline&#8217;s Chairman, continued &#8220;After a rigorous negotiating process, we are delighted to have signed these inaugural PSAs with the Somali Government.\u00a0This marks a defining moment for the country. The way is now open for other oil and gas companies to join us in our quest for commercial discoveries through the current licensing round and, also through direct negotiations with the Somali oil and gas authorities.\u00a0Revenues from the discovery of commercial quantities of hydrocarbons could be a major positive for\u00a0<span class=\"xn-location\">Somalia<\/span>\u00a0from which the government could finance investments in education, infrastructure, healthcare and other vital services, which will benefit all of the people of\u00a0<span class=\"xn-location\">Somalia<\/span>, including women and minorities, by helping provide for continued economic growth and improving the standard of living.&#8221;<\/p>\n<p>It is however unclear on whether the agreement stands with reports that Somalia&#8217;s President and PM had rejected the agreement with Coast Exploration. According to Somalia media outlets\u00a0Farmajo declared the arrangement nullified just hours after it was announced.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The Presidency FGS hereby declares nullification of Petroleum pact signed by the Minister on behalf of FGS. The deal contravenes Presidential Decree 7\/8\/2021 which bans the inking of deals during elections so as to protect public resources from exploitation during the elections. <a href=\"https:\/\/t.co\/ATcFqUCw6g\">pic.twitter.com\/ATcFqUCw6g<\/a><\/p>\n<p>\u2014 Villa Somalia (@TheVillaSomalia) <a href=\"https:\/\/twitter.com\/TheVillaSomalia\/status\/1495096851745456135?ref_src=twsrc%5Etfw\">February 19, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The alleged production sharing agreement purportedly signed by the Minister of Petroleum with a foreign entity regarding Somali oil reserves is illegal, unacceptable since it wasn&#8217;t done through legal avenues.I will take all appropriate measures to protect our national resources<\/p>\n<p>\u2014 Mohamed Hussein Roble (@MohamedHRoble) <a href=\"https:\/\/twitter.com\/MohamedHRoble\/status\/1495092094309916677?ref_src=twsrc%5Etfw\">February 19, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Hammering out deals on behalf of FGS during elections is in contravention of Presidential Decree (7\/8\/2021) which aims to protect public resources from exploitation to safeguard our national honor. The purported agreement by the Minister of Petroleum is illegitimate &amp; repealed. <a href=\"https:\/\/t.co\/sNs9GjMmMA\">https:\/\/t.co\/sNs9GjMmMA<\/a><\/p>\n<p>\u2014 Abdirashid M. Hashi (@MrDuqa) <a href=\"https:\/\/twitter.com\/MrDuqa\/status\/1495098793884270592?ref_src=twsrc%5Etfw\">February 19, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The signing ceremony was witnessed, amongst others, by the Chairman &amp; CEO and Vice-Chair of the Somali Petroleum Authority who highlighted their desire for the expected economic and social benefits for the Somali people.<\/p>\n<p>The signing follows the launch of the first offshore licensing round featuring up to 7 blocks covering over 30,000 square km which are estimated to be among the most prospective areas for hydrocarbon explorations and production in Somalia. Notably the blocks do not touch the disputed waters with Kenya\u00a0 to the south which the country won by the International Court of Justice ruling in favor of Mogadishu recognizing a southeast facing border line.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coastline Exploration has signed seven Production Sharing Agreements (PSAs) covering offshore, deep-water blocks of the Federal Republic of\u00a0Somalia. These PSAs enable Coastline to proceed with plans to explore for oil &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/somalia-coastline-exploration-signs-seven-production-sharing-agreements\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":11881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7443,11],"tags":[10208,10209,1598,1807,2090,10207,2352],"class_list":["post-11880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-eastern-africa","category-top-news","tag-coastline-exploration","tag-h-e-eng-abdirashid-m-ahmed","tag-ministry-of-petroleum","tag-offshore-blocks","tag-psa","tag-somali-petroleum-authority","tag-somalia","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Somalia-licensing-round.png?fit=601%2C390&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-35C","jetpack-related-posts":[{"id":12747,"url":"https:\/\/www.oilnewskenya.com\/index.php\/somalia-coastline-exploration-gets-greenlight-for-its-production-sharing-agreements\/","url_meta":{"origin":11880,"position":0},"title":"SOMALIA: Coastline Exploration Gets Greenlight for its Production Sharing Agreements;","author":"","date":"October 21, 2022","format":false,"excerpt":"Coastline Exploration announces that further to its statement on February 19th\u00a0regarding the signing of seven Production Sharing Agreements (PSAs) covering offshore, deep-water blocks of the Federal Republic of Somalia, it confirms it has received final authorization for it to proceed with its exploration programme from the competent authorities within the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Somalia-licensing-round.png?fit=601%2C390&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Somalia-licensing-round.png?fit=601%2C390&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Somalia-licensing-round.png?fit=601%2C390&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8206,"url":"https:\/\/www.oilnewskenya.com\/index.php\/somalia-launches-first-offshore-licensing-round\/","url_meta":{"origin":11880,"position":1},"title":"Somalia Launches First Offshore Licensing Round","author":"","date":"May 18, 2020","format":false,"excerpt":"The Ministry of Petroleum and Mineral Resources of the Federal Republic of Somalia announces the launching of Somalia\u2019s first offshore licensing round. Due to the spread of the global pandemic, COVID \u2013 19, and resulting restrictions, the Ministry decided to launch the licensing round virtually. The 2020 Somali licensing round\u2026","rel":"","context":"In &quot;Eastern Africa&quot;","block_context":{"text":"Eastern Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/eastern-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/02\/somalia-seismic.jpg?fit=654%2C422&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/02\/somalia-seismic.jpg?fit=654%2C422&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/02\/somalia-seismic.jpg?fit=654%2C422&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7879,"url":"https:\/\/www.oilnewskenya.com\/index.php\/somalia-approves-new-petroleum-law\/","url_meta":{"origin":11880,"position":2},"title":"Somalia Approves New Petroleum Law","author":"","date":"January 7, 2020","format":false,"excerpt":"Somalia\u2019s Parliament \u00a0upper house earlier this week approved a new petroleum legislation, aimed at providing a regulatory framework that has been lacking and overall attract major international companies which exited the country over three decades ago. The new law will above all establish revenue sharing between the Somalia National Government\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Somalia-Licensing-Round-1.jpg?fit=511%2C730&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":7070,"url":"https:\/\/www.oilnewskenya.com\/index.php\/somalia-implement-oil-mining-framework\/","url_meta":{"origin":11880,"position":3},"title":"Somalia to Implement Oil, Mining Framework","author":"","date":"June 18, 2018","format":false,"excerpt":"The Ministry of Petroleum and Mineral Resources of the Federal Republic of Somalia has drafted regulations to manage the country\u2019s petroleum and mineral resources sectors, especially in regard to ownership and revenue sharing. The agreement was made by the federal government and the federal member states of the National Security\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/06\/Somalia-oil-and-gas.jpg?fit=900%2C603&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/06\/Somalia-oil-and-gas.jpg?fit=900%2C603&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/06\/Somalia-oil-and-gas.jpg?fit=900%2C603&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/06\/Somalia-oil-and-gas.jpg?fit=900%2C603&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8765,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-week-to-host-somalia-licensing-round-derisking-above-ground-factors-session\/","url_meta":{"origin":11880,"position":4},"title":"Africa Oil Week to Host \u201cSomalia Licensing Round: Derisking Above Ground Factors\u201d Session","author":"","date":"August 6, 2020","format":false,"excerpt":"Africa Oil Week\u00a0 has announced that it will host a \u201cSomalia Licensing Round: Derisking Above Ground Factors\u201d session at its online conference, AOW Virtual. The session will be in partnership with TGS and the Somali Ministry of Petroleum and Mineral Resources and will take place this October 8. Somali Minister\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/02\/Somalia-Licensing-Round-1.jpg?fit=511%2C730&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":15490,"url":"https:\/\/www.oilnewskenya.com\/index.php\/somalia-turkiye-to-begin-offshore-drilling-at-the-horn-of-africa\/","url_meta":{"origin":11880,"position":5},"title":"SOMALIA: T\u00fcrkiye to Begin Offshore Drilling at the Horn of Africa","author":"","date":"January 7, 2026","format":false,"excerpt":"T\u00fcrkiye is set to begin offshore drilling operations in Somalia in a move that could mark a turning point for the country\u2019s upstream oil and gas sector. The development follows the successful conclusion of a three-day Technical Committee Meeting between the Somali Petroleum Authority (SPA) and Turkish Petroleum Company (TPAO)\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Turkey-Somalia.png?fit=760%2C500&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Turkey-Somalia.png?fit=760%2C500&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Turkey-Somalia.png?fit=760%2C500&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Turkey-Somalia.png?fit=760%2C500&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=11880"}],"version-history":[{"count":6,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11880\/revisions"}],"predecessor-version":[{"id":11887,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11880\/revisions\/11887"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/11881"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=11880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=11880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=11880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}