DNO International ASA has entered into a Production Sharing Contract (PSC) covering Block SL18 onshore Somaliland.

The President of Somaliland, Ahmed M. Mohamoud Silanyo, and DNO International's Executive Chairman, Bijan Mossavar-Rahmani, attended the signing ceremony in Washington, D.C..

"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," said Mossavar-Rahmani. 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."

The Company has initiated studies on Block SL18 ahead of an extensive seismic program planned for 2014.

Tags: DNO International