Saharawi Arab Democratic Republic Petroleum Authority
Bir Lahlou, 22 January, 2008
SAHARAWI ARAB DEMOCRATIC REPUBLIC SETS DATE FOR SECOND PETROLEUM LICENSING
ROUND
The Saharawi Arab Democratic Republic (SADR) is pleased to announce the
launch of the Second Petroleum Licensing Round, to be opened in Houston,
Texas, USA on 5 February, 2008. On that date, the SADR will hold a
presentation highlighting the various aspects of this Licensing Round.
Attendance at the presentation will be by invitation only.
A total of three onshore and six offshore blocks will be offered,
totalling
192,569 square kilometres (48 million acres). Water depths in the offshore
blocks range from 0 to 3,600 meters.
Most of the blocks lie in the under-explored Mesozoic and Tertiary Aaiun
Basin, where the most recent extensive oil and gas exploration program was
accomplished in the late fifties and early sixties. This earlier
exploration
program proved the existence of a sedimentary section at least 6,000
meters
thick, and the presence of all of the ingredients for a working petroleum
system.
The SADR licensing regime is a Production Sharing Contract (PSC) format,
with most terms biddable. The PSC is preceded by an Assurance Agreement
(AA), valid for a period of up to ten years, or until certain external
conditions have been met.
The SADR held a very successful First Bid Round which opened in 2005, with
9
licenses awarded to eight companies in early 2006. These companies are
presently evaluating the petroleum prospects of the awarded licenses.
The SADR is a member of the African Union (AU) and is the sovereign
authority for the territory referred to as Western Sahara.
The licensing initiative has been launched in preparation for the full
recovery of all of our territory, as the UN mediation process progresses
towards a lasting solution to the conflict between the SADR and Morocco.
The
licensing initiative has been arranged in accordance with the UN legal
opinion regarding commercial activities in Western Sahara.
Emhamed Khadad, advisor to the SADR President, comments "the SADR
government
will endeavour to make our significant natural resources play an im****tant
part in the development of a self-reliant, democratic and progressive
nation. The SADR will contribute to the peace and stability of the Maghreb
Region and will strive for the development and well-being of all the
peoples
of our region. The SADR Government assures investors that it will fully
respect all its obligations".
For more information, you are invited to visit the website of the SADR Oil
and Gas Licensing Authority (www.sadroilandgas.com). Oil and gas
exploration
companies interested in attending the presentations in Houston are invited
to contact Mr. Kamal Fadel at kfadel@[EMAIL PROTECTED]
Box 291
Glebe NSW 2037
AUSTRALIA
Tel: +61 2 92 65 82 58
Fax: +61 2 92 83 92 70
Email: info@[EMAIL PROTECTED]
www.sadroilandgas.com
__________________________________________________________________
Source: http://www.sadroilandgas.com/pdfs/sadr_press%20release_220108.pdf
See also:
SADR: Saharawi Republic announces second petroleum licensing round, Oct
25,
2007
Press Release: SADR Offshore Oil & Gas License Awards, Mar 17, 2006
Press Release: SADR Onshore Oil & Gas License Offering, Jan 17, 2006
Press Release: SADR Licence Offering 2005: Update, Nov 1, 2005
__________________________________________________________________
Forwarded by:
Norwegian Sup****t Committee for Western Sahara
*** Referendum now! ***
www.vest-sahara.no
http://groups.yahoo.com/group/Sahara-update
|
