Somalia President Assigns New Petroleum Bill into Law

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 in exploration by major oil companies.

Somalia President Assigns New Petroleum Bill into Law

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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.