Exploring the untouched waters off Somalia, Coastline Exploration wonders why this area has been left unexplored. Armed with seven licenses, the team aims to balance technical uncertainties against socio-political risks.
Cracking the Source Rock Mystery
The challenge lies in finding a source of oil beneath the sea floor. Coastal wells near the basin show signs of gas and liquids, suggesting a hidden petroleum system. By reevaluating the basin’s history, Coastline partners with the University of Texas to create a model that points to ideal conditions for source-rock deposition.
A 50-70% Chance of Success
Comparing Somalia’s basin with Madagascar’s Majunga Basin, Coastline estimates a 50 to 70% chance of success in finding valuable sources. The analysis considers basin evolution, fluid evidence, and source-rock patterns.
Trillions of Barrels Waiting to Be Tapped.
Mapping the basin’s layers reveals the potential for trillions of barrels of oil. The Mogadishu Deep is mature for gas, while the northern Mid-Somalia High shows signs of being oil-mature.
Unique Challenges: Tectonism Sets Somalia Apart.
Somalia’s story includes a phase of tectonic shifts not seen in Madagascar, adding complexity. This phase created structures in the Mogadishu Deep, potentially influencing oil and gas presence.
Unlocking Somalia’s Petroleum Treasure
Contrary to long-standing concerns, Coastline believes Somalia holds a significant petroleum system. With plans for a seismic survey and drilling prospects in 2025, the company invites partners to join in uncovering this potentially multi-billion barrel province.