On 7th February 2019, the Federal Government of Somalia held the ‘Offshore Somalia Oil and Gas Conference’ in London, UK. Deputy Speaker of the House of the People, Abdiwali Sheikh Ibrahim Muudeey and Minister of Petroleum and Mineral Resources, His Excellency Abdirashid Mohamed Ahmed, were in attendance to welcome delegates and to introduce industry experts who outlined the Tender Protocol Process and attractive Fiscal Terms on offer.

In additional, delegates were shown a presentation outlining the likelihood of oil or gas discoveries offshore Somalia through knowledge gained from scientific papers, expert findings and the analysis of seismic imaging results.

In preparation for the offshore licensing round, Spectrum has completed acquisition and processing of 20,185 km of 2D long-offset seismic data, following a co-operation agreement with the Federal Government of Somalia. This program complements 20,500 km of existing seismic data acquired in 2014.

The survey design, which covers water depths of 30 m to 4,000 m, has allowed for seismic coverage over the shelf, slope and basin floor with dip, strike and recording time intervals suitable for defining a range of leads and prospects. Modern processing algorithms were applied to the raw data to achieve optimal imaging.