In early April, the Saharawi Arab Democratic Republic (SADR) was able to showcase the oil and gas exploration potential of its onshore and offshore territories at the prestigious annual convention of the American Association of Petroleum Geologists (AAPG) held in Houston this year on 9-12 April 2006.
On 27 March 2006, the SADR President HE Mohamed Abdelaziz, ratified the agreements signed between the Saharawi Arab Democratic Republic (SADR) and Eight Oil companies in London in March this year.
Following a competitive bidding round and subsequent discussions with successful applicants, the Government of the Saharawi Arab Democratic Republic (SADR) is pleased to formally announce that it has entered into separate agreements with international oil and gas companies to participate in the exploration of its sovereign territory.
Following discussions with international companies, and a successful offshore licensing initiative, the Government of the Saharawi Arab Democratic Republic (SADR), formally announces the commencement of an onshore licensing initiative to enable international oil and gas companies to participate in the exploration of its onshore sovereign territory.
The SADR government announced the commencement of an Oil and Gas licensing round on 17 May 2005. This offering of exploration licenses is the first international competitive licensing round arranged by the SADR Government, and follows a period of consultation with industry.