This hydrocarbon licensing round was originally scheduled to finalize and grant bids in August 2009 and December 2009, respectively.
In groundwork for the bid round in Somaliland, TGS-NOPEC Geophysical Company, ASA (TGS) has acquired 5,300 kilometers of seismic, gravity and magnetic data in the offshore areas and 34,700 kilometers of high resolution aeromagnetic data covering all known petroleum basins. In 2007-08, data acquisition was concluded. TGS utilized this data along with the current well logs and interpreted information to create comprehensive interpretation reports for the ministry. The reports, in addition to the recently acquired geophysical data and well logs are all multi-client products to be exclusively marketed by TGS on behalf of the ministry.
The time lines for the first bid round are as follows:
— Bid round opens on February 19, 2009
— Final submission of bids on December 15, 2009
— Concessions expected to be awarded on March 15, 2010.
