DNO Signs Somaliland PSC

Norway's DNO International reported Tuesday that it has signed a production sharing contract covering Block SL18 onshore Somaliland.

The firm said that President of Somaliland Ahmed Mohamoud Silanyo and DNO Executive Chairman Bijan Mossavar-Rahmani both attended the signing ceremony Monday in Washington D.C.

DNO has begun studies on Block SL18 ahead of an extensive seismic data acquisition program planned for 2014.

"This 12,000 square kilometer block adds substantial exploration acreage to DNO
International's portfolio and in an area that is both prospective and
undrilled," Mossavar-Rahmani said. 

He added that Somaliland falls within the company's geographic and geological comfort zones. "We have been active across the Gulf of Aden in Yemen since the late 1990s," he said.

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