There is plenty of oil in Somalia and if not in billions of barrels, its in millions, energy intelligence analysts project, reinforcing the petro-dollar theory of renewed British efforts to reinvent Somalia.
In Puntland where Range Resources, Horn Petroleum, and Africa Oil are exploring and drilling, oil has been discovered and the commercial viability is being verified.
These findings will be made soon and announced, the explorers have hinted.
The Shabelle wells can yield up to 400 million barrels of oil, oil exploration data analysts project.
The Shabelle-1 wells in Puntland has a proven petroleum system with recoverable oil of 170 million, Horn and its strategic partners had projected.
According to the explorers, commercially flow tests will be undertaken after the completion of the second well, Shabeel North.
The well be spudded early June and based on Range Resource’s internal technical team’s review of the net pay zone and results to date, a successful flow test could result in 70 to 130mm barrels of recoverable oil from the well of which 14 to 26mm bbls would be attributable to Range.
