Jacka will enjoy a free carry through the exploration programme, comprising at least 1500 kilometres of 2D seismic and one well, and will retain a 30% working interest, with partner Petrosoma retaining its own 20% stake.

The breakaway Republic of ­Somaliland remains unrecognised by the international community and continues to resist pressure to rejoin the Somali state.

Genel will earn its stake by implementing “an accelerated exploration programme”, and by carrying Jacka and Petrosoma through an initial 36-month phase of the PSC, while paying the pro rata $700,000 share of Jacka’s back-costs.

Odewayne’s