The authorities, Shell + ExxonMobil have updated some agreements dating back to the 90s before rights assigned in 5 offshore blocks were frozen. Issues have been addressed over payments of surface rentals and other incurred obligations, although formce majeure remains in place. Somalia hopes to convert agreed concessions under FM into PSCs under its new Petroleum Law. Somalia has a licensing round underway since February, 15 blocks totalling 75,000 sq kn (DEA 8 Feb â19).
The authorities, Shell + ExxonMobil have updated some agreements dating back to the 90s before rights assigned in 5 offshore blocks were frozen. Issues have been addressed over payments of surface rentals and other incurred obligations, although formce majeure remains in place. 