Coastline Exploration signs seven Production Sharing Agreements in the Federal 
Republic of Somalia

Coastline Exploration Limited (“Coastline”), the upstream oil and gas company 
focused on East Africa, announces that it has signed seven Production Sharing 
Agreements (“PSAs”) covering offshore, deep-water blocks of the Federal 
Republic of Somalia. These PSAs enable Coastline to proceed with plans to 
explore for oil and gas on the many prospects and leads identified in these 
offshore blocks. 
 
W. Richard Anderson, Chief Executive of Coastline, commented, “Somalia contains 
the largest remaining unexplored set of basins situated in warm waters in the 
world.  We are honoured and excited to be part of its future development. The 
Government of Somalia and the Ministry of Petroleum have spent a great deal of 
time and effort to ensure the country has the proper legal and administrative 
infrastructure to support oil and gas exploration with the passing of the 
Petroleum Law, adoption of the Revenue Sharing Agreement among the Federal 
Government and its Members States and the establishment of the Somali Petroleum 
Authority to provide continuing support for the anticipated growth in the 
sector.”

Jake UIrich, Coastline’s Chairman, continued “After a rigorous negotiating 
process, we are delighted to have signed these inaugural PSAs with the Somali 
Government.  This marks a defining moment for the country. The way is now open 
for other oil and gas companies to join us in our quest for commercial 
discoveries through the current licensing round and, also through direct 
negotiations with the Somali oil and gas authorities.  Revenues from the 
discovery of commercial quantities of hydrocarbons could be a major positive 
for Somalia from which the government could finance investments in education, 
infrastructure, healthcare and other vital services, which will benefit all of 
the people of Somalia, including women and minorities, by helping provide for 
continued economic growth and improving the standard of living.”

The signing ceremony was witnessed, amongst others, by the Chairman & CEO and 
Vice-Chair of the Somali Petroleum Authority who highlighted their desire for 
the expected economic and social benefits for the Somali people.
Ends

About Coastline Exploration

Founded in 2018, Coastline Exploration was established to help develop the 
hydrocarbon industry within East Africa.  Following the discovery of commercial 
quantities of oil in Kenya and Uganda, coupled with world-class offshore gas 
reserves in Tanzania and Mozambique, Coastline Exploration believes there is 
huge potential for further significant oil and gas discoveries across the 
region.

www.coastlineexploration.com

Enquiries:
Hudson Sandler
Dan de Belder/Francis Kerrigan						
+44-(0)207-796-4133
Email: coastlineexploration@hudsonsandler.com 			

SOURCE: Coastline Exploration Limited