Agreement with joint venture explorer boosts Somalia’s post-conflict effort to attract IOCs to its long-delayed licensing round Somalia reached an agreement with a Shell-ExxonMobil joint venture on 24 February that covers future exploration of offshore oil and gas blocks, according to the East African country’s Ministry of Petroleum and Mineral Resources. The agreement enables historic …
MOGADISHU (HOL) – President Mohamed Farmaajo Saturday signed the amended Petroleum Law marking a major milestone for the country’s efforts to exploit oil resources even as some Federal Member States rejected the law as lacking in consultations. Villa Somalia said in a statement the signing into law of the Petroleum Law ‘demonstrates to international investors …
Somali President Signs Petroleum Law, Senate Approves Elections Law Read More »
CAPE TOWN, Feb 8 (Reuters) – Somali President Mohamed Abdullahi Farmajo has signed landmark petroleum legislation into law to help open up a new frontier market, the oil ministry said on Saturday. The upper house of Somalia’s parliament in January approved the petroleum law aimed at providing a regulatory framework that will help attract investment …
Somalia President Assigns New Petroleum Bill into Law Read More »
According to a report by S&P Global the country’s petroleum ministry confirmed on August 4 that bids can be submitted up to March 12, 2021, for the seven offshore oil blocks on offer. Somalia launched its first ever licensing round in mid-May but companies can now express interest for its offshore oil blocks, as it …
Petroleum Authority Set Up as Somalia Rekindles Quest for Oil Read More »
Somali Petroleum Authority board has been approved by the Mogadishu government ahead of licensing round Somalia’s cabinet approved the board members of the Somali Petroleum Authority (SPA) on 30 July, passing a significant milestone as the Ministry of Petroleum and Mineral Resources prepares to launch its first licensing round on 4 August. The appointment of …
Somalia has finally appointed a board and chairman to guide the new Somali Petroleum Authority, the challenge is now to attract suitors into the troubled Horn of Africa. Somalia Appoints New Oil and Gas Regulator Ahead of Round Launch
CAPE TOWN, Aug 5 (Reuters) – Somalia expects to announce the winners of its first oil and gas licensing round early next year, as the country seeks petro dollars to help rebuild its struggling economy, a senior government oil official said on Wednesday. Battered by violence and an Islamist insurgency since clan warlords overthrew a …
Somalia Expects to Announce Winners of Petroleum Auction Early 2021 Read More »
MOGADISHU (HOL) – The petroleum sector regulatory body Somali Petroleum Authority has appointed seven board members representing the Federal Member States and the Federal Government. In a statement Wednesday, the authority said the appointments were in line with the provisions of the Petroleum Act. “The Board will oversee all the SPA’s activities to ensure that …
Somalia appoints seven board members to lead the petroleum regulator Read More »
Somalia is racing to staff up its fledgling oil bureaucracy to manage suitor interest ahead of concluding an offshore bidding round, the country’s first major international licensing exercise to be conducted in several decades. The Somali Petroleum Authority (SPA) on Wednesday appointed six independent directors to its board, each representing a Somali component state with …
Somali Regulator Unveils Board Line Up Ahead of Historic Offshore Licensing Round Read More »
Somalia Welcomes State Members to SPA Somalia has announced the appointment of six independent directors to the board of the Somali Petroleum Authority (SPA). The six directors, each from a different state, will sit alongside another director from the federal government. This is in line with the revenue distribution agreement, which shares any funds between …
