Access one of the
world’s last remaining
unexploited basins.
With multi-billion barrels in recoverable reserves.
The Background
A significant new petroleum province opened in Eastern Africa in the second decade of the twenty-first century.
Jurassic source rocks and Cretaceous and Tertiary clastic reservoirs came together to deliver world-class gas discoveries in the offshore basins of Kenya, Tanzania, and Mozambique.
The Recent Past
In the recent past, long-running civil conflict and an Islamist insurgency resulted in little interest in oil & gas exploration.
With an eye to future stability, however, an extensive offshore 2D seismic survey was acquired by Coastline exploration in 2014-15 and then Spectrum ASA (now TGS) in 2015-16.
Coastline Exploration licensed a portfolio of blocks across the passive margin.
The Present Day
In 2022, elections in Somalia resulted in a peaceful transition of power between the outgoing and incoming administrations.
As a result, coastline Exploration has successfully extended its PSA in eleven large blocks with the newly elected Federal Government of Somalia
why is this exciting?
Coastline Exploration has conducted a geological assessment of the three sub-basins in the Somali passive margin at the play fairway level.
This assessment has indicated the promise in several clastic and carbonate plays in water depths between 1500 and 3200m.
In contrast to the basins further south on the margin, most of the prognosed source interval lies within the oil window, and the leads that have been identified are associated with large, long-lived, charge-focusing highs.
The Opportunity
Coastline Exploration seeks a partner with deepwater operating experience to farm into the acreage.
We plan to acquire 3D seismic over the most promising leads in 2023-2024 to mature a portfolio of drillable prospects in one of the few remaining worldwide oil-prone basins with multi-billion barrel potential.
Benefits for somalia
