Opinion article by Abdulkadir Aden Mohamud, CEO and Chairman Somalia has a tough legacy. Two decades of civil war and ongoing natural disasters including droughts and flooding have triggered the displacement of 2 million citizens. Almost 70% of Somali live under the international poverty line of $1.90 a day. The country heavily depends on international …
In the first of three explainer videos, we look at the Petroleum Law which was established in 2020. The law is designed to ensure that Somalia’s petroleum resources are maximised for the benefit of the Somali people whilst establishing a robust framework for governance. The remaining videos will look at the Production Sharing Agreement (PSA) …
Response to Media Speculation 22 April 2022 Mogadishu, Somalia: The Somalia Petroleum Authority (“SPA”) notes the article published by Voice of America on 19 April and issues the following response. The analysis published in the article was entirely inaccurate and based on an early draft of the Production Sharing Agreement (PSA), which is no longer …
Somali Petroleum Authority Response to Media Speculation Read More »
by Abdulkadir Aden Mohamud, CEO and Chairman Somalia stands poised to capitalise on an unprecedented opportunity, surpassing through its oil exploration even the considerable success of its neighbours. The country’s offshore waters may contain at least 30 billion barrels of oil reserves, according to Spectrum Geo, a company that conducted a seismic data study of …
Why a commitment to sustainable development is the key to Somalia’s future Read More »
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 …
The Somali Petroleum Authority (SPA) was established to ensure a transparent and robust regulatory framework for external investors to explore petroleum potential whilst ensuring Somalia has maximum benefit.
In line with our core principle of transparency, we will post on Twitter relevant information and welcome questions. So please follow our Twitter account at @SPASomAuthority to be part of the discussion.
