Range Resources Wins Offshore Oil Exploration Deal in Puntland, SomaliaJuly 30 | Posted by David Goldman | Energy Intelligence
Range Resources have signed an offshore production sharing agreement (PSA) for Puntland, Somalia, intelligence reports confirm.
Range Resources will explore oil and gas in the Somalia’s Puntland shores, an area which is regarded as rich in the very important commodity.
The contract is being prepared and Range Resources will have a working offshore production sharing agreement (PSA) for Puntland, Somalia.
In its communique, Range explained that it is looking forward to the end of the current quarter of the year for the PSA with Somalis to be finalized and signed off by both parties.
Range Resources Limited (“Range” or “the Company”) is both an ASX-listed (ASX: RRS) and AIM-listed (AIM: RRL) exploration and production Company.
This PSA between Range Resources and Somalia will be a significant step towards exploring offshore Somalia and the first such a project in Somalia.