Multi-client data ready for Somaliland's first petroleum licensing round
Houston, Texas (12 March, 2009) - TGS-NOPEC Geophysical Company (TGS) announced today that it has completed processing and interpretation of two new multi-client programs in Somaliland. Acquired in partnership with the Somaliland Ministry of Water and Mineral Resources (Ministry), the programs include 5,300 kilometers of marine 2D seismic, gravity, and magnetic data, plus approximately 34,000 kilometers of high resolution aeromagnetic data covering onshore areas.
Designed to define the principle structural elements of the area and allow for the development of leads, plays, and structural highs for further investigation, this new data is released to coincide with Somaliland's first petroleum licensing round, which opened in February. The bid round includes eight concession blocks comprised of more than 89,624 square kilometers of onshore and offshore areas. Somaliland is geologically analogous to nearby Yemen, where several oil fields have been discovered to date.
TGS is the first company to gather new geophysical data in the Republic of Somaliland in almost thirty years. Through an agreement with the Ministry, TGS will exclusively market the seismic and aeromagnetic data on behalf of Somaliland.
