Somalia: Petroleum law ratified
- 27 Feb 2020
| 2 minute read
President Mohamed Abdullahi Farmajo has ratified Somalia’s long-awaited petroleum law, paving the way for licensing of exploration blocks. The law, which was approved by parliament in May 2019 includes a revenue-sharing agreement that provides for revenues from any eventual oil production to be distributed through the country’s federal states. It establishes the Somali National Oil Company as the state entity charged with participating in petroleum operations, as well as the Somali Petroleum Authority, which will act as a regulatory body overseeing oil and gas activity.
Don't have an account?
Register for access to our free content
An account also allows you to view selected free articles, set up news alerts,
search our African Energy Live Data power projects database and view project locations on our interactive map