Horn Petroleum Worried About Nugaal Block License Claimed British Asante Oil.May 15 | Posted by David Goldman | Energy Intelligence
Sudden British interest in Somalia can be traced to oil explorer interests in oil rich Puntland.
However, it is the intentions of the interest that worry already exploring and drilling companies Horn Petroleum and Africa Oil.
Both companies and their strategic partners own license to explore and drill the Nugaal Block and the Dharoor Block.
Intelligence gathered by Strategic Intelligence Energy intelligence shows these blocks have been licensed to other companies.
Horn Petroleum suffered setbacks when it confirmed that British oil exploration firm Asante Oil owns a license for the Nugaal Block in Puntland.
Horn claimed that it has already invested heavily on the blocks exploration activities and believes Puntland and Somaliland should resolve the matter.
Somaliland and Puntland accuse each other of occupying land belonging to either including the oil blocks.
Horn Petroleum believes Asante Oil got its Nugaal Block license from Somaliland officials.
However in a setback, Somaliland claims the Nugaal Basin where the Nugaal Block lies belongs to its government and that the license Horn Petroleum owns is invalid.