ION planning to conduct 2D seismic Survey in Puntland.......

[knet]

ION planning to conduct 2D seismic Survey in Puntland......



GAROWE, Somalia Jan 14, 2015 (Garowe Online)-Puntland government in northern Somalia has struck a deal on multi-client 2D seismic survey in offshore territories with ION Geophysical Corporation, Garowe Online reports.

Puntland President Abdiweli Mohamed Ali has witnessed the signing ceremony, pledging full backing for the first-ever program in war-torn Somalia.

US-based Corporation representatives clinched the agreement with the Director-General of Puntland Petroleum and Minerals Agency (PPMA) Isse Mohamud Farah.

In light of the vast reserves of hydrocarbons in the northeastern state, ION says the data which will cover acreages on offshore Puntland may help oil and gas exploration companies identify blocks in the near future.

Government also expects the new project ‘PuntlandSPAN’ to provide commercial oil giants with interest in the region more than 7600 km of pre-stack depth-migrated data.

“This survey will prove a highly valuable tool as Puntland begins to promote future licensing rounds for deep water oil and gas exploration,” Farah told Energy Global.

Garowe Online has learned that Puntland President and ION Geophysical Corporation clinched the agreement in Ethiopian capital of Addis Ababa in late December.

In early January, Puntland Government announced the resumption of gas and oil exploration activities.

GAROWE ONLINE
- See more at: http://www.garoweonline.com/page/show/p ... h9HDZ.dpuf

[Togdeer]

In your wildest dreams. They already searched for oil in pum-pumland and found nothing.
What makes you think they will find oil offshore?
Face it people there is no oil in somalia. Find other ways of getting rich.

[knet]

In your wildest dreams. They already searched for oil in pum-pumland and found nothing.
What makes you think they will find oil offshore?
Face it people there is no oil in somalia. Find other ways of getting rich.

May your Puntland envy kill you.

Say Amin bitch.

[Togdeer]

There is no envy, I just told you the truth.
There is no oil in Somalia, Somaliland and Djibouti.
Why waste time, when you could be making money from other sources like minerals?

[GAMES]

There is no envy, I just told you the truth.
There is no oil in Somalia, Somaliland and Djibouti.
Why waste time, when you could be making money from other sources like minerals?

Togdheer you do have a point. And even if there was OIL, this wouldnt be a good time to extract it.

1. OIL prices are trading at $45 a barrel.

2. There are too much OIL in the world and demand is down.

3. It wouldn't make sense for investors to put money ina commodity that they might not see an ROI in couple of yrs.

[knet]

There is no envy, I just told you the truth.
There is no oil in Somalia, Somaliland and Djibouti.
Why waste time, when you could be making money from other sources like minerals?

Togdheer you do have a point. And even if there was OIL, this wouldnt be a good time to extract it.

1. OIL prices are trading at $45 a barrel.

2. There are too much OIL in the world and demand is down.

3. It wouldn't make sense for investors to put money ina commodity that they might not see an ROI in couple of yrs.

You are correct Oil today is trading at $45 a barrel but how long do you really think that will last?

It was over $100 during the summer, and oil hasn't reach this low in decades. It's being done on purpose for political reason but Oil is a must have and it will return to it's prime sooner than later believe that.

[original dervish]

It will take at least ten years, if they find oil/gas, to reach the production stage.
By then oil prices will be significantly higher.

[knet]

It will take at least ten years, if they find oil/gas, to reach the production stage.
By then oil prices will be significantly higher.

Everyone knows the Fat American Pleasing Arabs can't stay broke for to long.

Oil is their life line and it will go up one way or another.

Indeed we are in a good situation.

[Cunaaye25]

How is going- any progress yet

Puntland huffed and puffed - you've made your bed, now lie in it.

Refusing spectrum to carry out 2d sesemic data. Hassan was pretty much much weak and bullied.

This gov would have carried the 2d survey, regardless and Puntland could have not done anything about.

The Federal states that will benefit- includes

Galmudug,Hirshabelle, southwest, Jubbaland and SFG.

Puntland will receive aid money