{"id":5064,"date":"2016-08-22T08:29:39","date_gmt":"2016-08-22T08:29:39","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=5064"},"modified":"2017-01-24T19:59:36","modified_gmt":"2017-01-24T19:59:36","slug":"genel-energy-receives-2-year-extension-at-the-odewayne-production-sharing-agreement","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/genel-energy-receives-2-year-extension-at-the-odewayne-production-sharing-agreement\/","title":{"rendered":"Genel Energy Receives 2 year extension at the Odewayne Production Sharing Agreement"},"content":{"rendered":"<p>Sterling Energy has announced that the Government of the Republic of Somaliland has granted the operator Genel Energy \u00a0a further 2 year extension to the current period of the Odewayne Production Sharing Agreement (PSA).<\/p>\n<p>The expiry dates of the relevant exploration periods under the PSA shall now be:<\/p>\n<ul>\n<li>Third Period: 2 November 2018;<\/li>\n<li>Fourth Period (optional): 2 May 2020;<\/li>\n<li>Fifth Period (optional): 2 May 2021; and<\/li>\n<li>Sixth Period (optional): 2 May 2022.<\/li>\n<\/ul>\n<p>The minimum work obligations for the exploration periods remain unchanged:<\/p>\n<ul>\n<li>the acquisition of 500km of 2D seismic during the Third Period; and<\/li>\n<li>the acquisition of 1,000km of 2D seismic and one exploration well during the Fourth Period.<\/li>\n<\/ul>\n<p>Sterling holds a 40% interest in the PSA and will be carried by Genel (50% interest and Operator) for the costs of all exploration activities during the Third and Fourth Periods of the PSA.<\/p>\n<p>\u201cWe would like to thank the Government of the Republic of Somaliland and Genel for agreeing to the further 2 year extension. We look forward to the commencement of the seismic campaign,\u201dsaid the Company\u2019s Chief Executive Officer Eskil Jersing.<\/p>\n<p>During the last announcement the joint venture partners announced that the acquisition of 2D seismic in the large onshore Odewayne PSC block will commence in late 2016, early 2017.7<\/p>\n<p>The seismic operations in Somaliland have been temporarily suspended for a while due to deterioration in the\u00a0<a href=\"http:\/\/ow.ly\/Zf9eh\">security<\/a>\u00a0environment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sterling Energy has announced that the Government of the Republic of Somaliland has granted the operator Genel Energy \u00a0a further 2 year extension to the current period of the Odewayne &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/genel-energy-receives-2-year-extension-at-the-odewayne-production-sharing-agreement\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":1015,"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":[11],"tags":[26,34,3139,837,3303,976,4997,4079,2267,2272,2352,2356,2409],"class_list":["post-5064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-2d-seismic","tag-3d-seismic","tag-eskil-jersing","tag-exploration","tag-extension","tag-genel-energy","tag-onshore-odewayne-psc","tag-operator","tag-security","tag-seismic","tag-somalia","tag-somaliland","tag-sterling-energy","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/somaliland1.jpg?fit=520%2C517&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1jG","jetpack-related-posts":[{"id":8062,"url":"https:\/\/www.oilnewskenya.com\/index.php\/somaliland-extends-odewayne-block-psa\/","url_meta":{"origin":5064,"position":0},"title":"Somaliland Extends Odewayne Block PSA","author":"","date":"September 28, 2019","format":false,"excerpt":"Sterling Energy Plc has announced that the Government of the Republic of Somaliland has granted a continued extension to the current period of the Odewayne Production Sharing Agreement. The expiry dates of the relevant exploration periods under the PSA shall now be: Third Period: 2 November 2020; Fourth Period (optional):\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\/2020\/03\/Odewayne-Block.png?fit=423%2C528&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13036,"url":"https:\/\/www.oilnewskenya.com\/index.php\/somalia-federal-government-declares-genel-energy-operations-in-somaliland-illegal\/","url_meta":{"origin":5064,"position":1},"title":"SOMALIA: Federal Government Declares Genel Energy Operations in Somaliland Illegal","author":"","date":"December 29, 2022","format":false,"excerpt":"Somalia's Ministry of Petroleum and Mineral Resources has condemned Genel Energy\u2019s activities in the autonomous region of Somaliland terming them as illegal. According to s statement by the ministry warns\u00a0 Genel Energy of the potential risks to its investment and legal ramifications for what it calls 'carrying out illegal exploration\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\/2020\/02\/Somaliland.jpg?fit=609%2C345&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/02\/Somaliland.jpg?fit=609%2C345&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/02\/Somaliland.jpg?fit=609%2C345&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5566,"url":"https:\/\/www.oilnewskenya.com\/index.php\/drilling-in-somalilands-odewayne-block-not-expected-till-2019\/","url_meta":{"origin":5064,"position":2},"title":"Drilling in Somaliland\u2019s Odewayne Block not expected till 2019","author":"","date":"January 16, 2017","format":false,"excerpt":"Oil and gas exploration drilling in Odewayne block is two to three years away according to block joint venture partner Sterling Energy in its latest presentation to shareholders. The block which is operated by Genel Energy and currently in the third period (after recieving a further 2 year extension to\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\/2017\/01\/Odewayne-Block.png?fit=423%2C528&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1014,"url":"https:\/\/www.oilnewskenya.com\/index.php\/sterling-energy-announces-completion-of-farm-in-to-odewayne-block\/","url_meta":{"origin":5064,"position":3},"title":"Sterling Energy announces completion of farm-in to Odewayne Block","author":"Samuel Kamau Mbote","date":"May 12, 2014","format":false,"excerpt":"Sterling Energy has announced that completion has now occurred under the Farmout Agreement with Jacka Resources Somaliland for the acquisition of an additional 15% interest in the Production Sharing Contract (PSC) for the Odewayne Block, located onshore in the Republic of Somaliland. The holders of the PSC are now:\u00a0Genel Energy\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\/2014\/05\/somaliland1.jpg?fit=520%2C517&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5858,"url":"https:\/\/www.oilnewskenya.com\/index.php\/2d-seismic-acquisition-commences-on-the-odewayne-sl-10b13-blocks-somaliland\/","url_meta":{"origin":5064,"position":4},"title":"2D seismic Acquisition Commences on the Odewayne &#038; SL-10B\/13 Blocks, Somaliland","author":"","date":"April 7, 2017","format":false,"excerpt":"Odewayne and SL-10B\/13 Blocks operator Genel Energy has said that 2D seismic acquisition project commenced in March as part of a Somaliland government owned speculative 2D seismic acquisition project and in line with former announcements. The joint venture partners on the block Genel Energy, Sterling Energy and Petrosoma\u00a0will purchase the\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\/2016\/03\/somaliland-blocks.jpg?fit=870%2C440&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/03\/somaliland-blocks.jpg?fit=870%2C440&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/03\/somaliland-blocks.jpg?fit=870%2C440&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/03\/somaliland-blocks.jpg?fit=870%2C440&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":5600,"url":"https:\/\/www.oilnewskenya.com\/index.php\/2d-seismic-on-somalilands-odewayne-sl-10b13-blocks-expected-by-march-2017\/","url_meta":{"origin":5064,"position":5},"title":"2D seismic on Somaliland\u2019s Odewayne, SL-10B\/13 blocks expected by March 2017","author":"","date":"January 24, 2017","format":false,"excerpt":"Somaliland with through its speculative 2D seismic acquisition project will commence the acquisition of 2D seismic data on the Odewayne and SL-10B\/13 blocks earlier expected to start in 2016 by March 2017 according to operator Genel Energy. Under a new agreement the government will acquire the data by contracting with\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\/2016\/03\/somaliland-blocks.jpg?fit=870%2C440&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/03\/somaliland-blocks.jpg?fit=870%2C440&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/03\/somaliland-blocks.jpg?fit=870%2C440&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/03\/somaliland-blocks.jpg?fit=870%2C440&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\/5064","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=5064"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5064\/revisions"}],"predecessor-version":[{"id":5065,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5064\/revisions\/5065"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1015"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=5064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=5064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=5064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}