Petroleum Africa
Find us on: 
Sunday, September 15, 2019
Sterling Energy was granted a continued extension to the current period of its Odewayne PSA by the Somaliland government. The expiry dates of the exploration periods under the PSA now take Sterling into 2024.
The Third Period will end November 2020, the Fourth Period May 2022, the Fifth Period now ends in May 2023 and the Sixth Period in May 2024. It should be noted that the fourth through sixth period are optional.
The minimum work obligations for the exploration periods remain unchanged: (i) the acquisition of 500 km of 2D seismic during the Third Period; and (ii) the acquisition of 1,000 km of 2D seismic and one exploration well during the Fourth Period.
Sterling holds a 34% interest in the PSA and will be carried by Genel, the operator, for the costs of all exploration activities during the Third and Fourth Periods of the PSA.
David Marshall, the company’s CEO said “We would like to thank the Government of the Republic of Somaliland and Genel for agreeing to a continued extension. Sterling continues to support the operator during the reprocessing of the full 2D seismic dataset and we look forward to receiving the final deliverables in Q4 2019.”
The Odewayne Block covers a very large area (circa 22,000 sq km) onshore southwestern Somaliland, located adjacent to the border with Ethiopia. The PSC covers block SL6 and part of blocks SL7 and SL10.
" alt="ReconAfrica Updates Activity on Upcoming Namibia Drilling Program">
" alt="SDX Disposes of West Gharib Asset in Egypt">
" alt="Botala Increases Stake in Botswana’s Serowe CBM Project">
" alt="Petrofac Awarded Technical Services Contract by GEPetrol">
" alt="Uganda Signs its Fourth CPF with International Atomic Authority">
" alt="EcoFlow Introduces Loadshedding Technology to South Africa">
