Somaliland:Ras al Khaimah Gas Company LLC (RAKGAS) set to Start Oil Explorations & Extraction Operations in March 2014

January, 13th 2014

Somaliland Minister of Mining and Energy Hon Hussein Abdi Dualeh today received representatives of Ras al Khaimah Gas Company LLC (RAKGAS) lead by Mr. Osama Abdulla Aal and his associate who are currently visiting the country.

Hon Dualeh speaking during today’s press conference said, “The visiting “RAKGAS” officials are in the country in regarding the execution of the production sharing Agreement (PSA) with government of Somaliland, for the exploration of Block SL9 and SL12 respectively and to facilitate the start the of the Explorations & oil extraction operations by the UAE owned company in the country which is due to commence in March 2014.

Mr. Dualeh added that, “We are pleased to continue our partnership with Ras al Khaimah Gas Company LLC (RAKGAS) as we look to develop the oil and gas industry in Somaliland and we are looking forward for future cooperation.”

“This is the fourth oil company to announce it will start oil extraction operation in the country this year,” He stated

Mr. Osama Abdulla Aal leading the visting RAKGas delegation said “, He was pleased to be working with the people and government of Somaliland especially the minister of energy for his hospitality and he hoped the deal will be fruitful to all.

Last year Somaliland Minister of Mining and Energy Hon Hussein Abdi Dualeh announced the execution of an amendment to the production sharing Agreement (PSA) with Ophir Energy plc (Ophir) and Ras al Khaimah Gas Company LLC (RAKGAS), for the exploration of Block SL9 and SL12 respectively.

The Amendment includes the awarding of additional acreage to Ophir and RAKGAS in lieu of signature bonus, the payments of surface rent, a participating interest and an improved work program.

About RAK Gas LLC

Established in 1984 RAK Gas LLC is the state natural gas utility of the Emirate of Ras al Khaimah in the UAE.

Ophir Energy plc was founded in 2004 in the UK and is the incorporated holding company of a group of companies with oil and gas exploration assets in a number of African states.

Source: Somalilandpress.com