Search results

General

Type

Sector

Regions

Countries

Sort options

123 results found for your search

Issue 411 - 12 March 2020

Somalia: Shell/Exxon agreement

Subscriber

Following the passing of a new petroleum law in early February, the Ministry of Petroleum and Mineral Resources said on 2 March it had agreed an initial roadmap to convert pre-1991 offshore concessions owned by a Shell/ExxonMobil joint venture into production-sharing agreements.The agreement is the next step towards the planned licensing of oil and gas exploration off the coast of Somalia. Officials hope that as well as indicating the commitment of the majors to the country, it raises the likelihood that other IOCs will enter the market.

Somalia
Issue 410 - 27 February 2020

Somalia: Petroleum law ratified

Subscriber

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.

Somalia
Subscriber

The International Court of Justice has postponed the start of public hearings in a case brought by Somalia in 2014 over its maritime border with Kenya. The hearings, which follow written submissions to the court last year, were due to take place from 9 to 13 September, but on 3 September Kenya asked for a 12-month postponement, citing the need to recruit a new defence team. The hearings will now be held from 4 to 8 November.

Kenya | Somalia
Issue 398 - 30 August 2019

Genel Energy farmout plans

Subscriber

Genel Energy plans to farm down its 75% interest in the SL-10B and SL-13 blocks onshore Somaliland. In its H1 results on 6 August, Genel said interpretation of the 2018 2D seismic data together with continued basin analysis has led to the maturation of a prospects and leads inventory. “A number of potentially high impact exploration targets have been identified within play types directly analogous to the prolific Yemeni rift basins,” Genel said.

Somalia
Issue 396 - 12 July 2019

ICJ to hold border case hearings

Subscriber

The International Court of Justice (ICJ) will hold public hearings from 9 to 13 September in The Hague in a case brought by Somalia in 2014 over its maritime border with Kenya. The hearings follow written submissions to the court last year. Kenya initially said the ICJ should not rule on the case, arguing that the court was a last resort and bilateral talks had not been exhausted. However, the court decided in February 2017 that it did have jurisdiction to adjudicate on the dispute, and that Somalia’s application was admissible.

Kenya | Somalia
Subscriber

The World Bank is seeking expressions of interest from consultants by 15 June to help draw up a Somali Electricity Act. The project aims to promote the introduction of market discipline to the power sector and to create a favourable investment climate for private sector participation.The project will be financed by the World Bank Group through the Somalia Unlocking Sectoral Investment Programme.

Somalia
Subscriber

The Somali parliament on 20 May passed the long-awaited petroleum bill, paving the way for the government to award petroleum licences. A statement from the Ministry of Petroleum and Mineral Resources said the new law was based on the previous law, passed in 2008, with amendments to update certain provisions including a petroleum revenue-sharing agreement setting out how future revenues from the development of the petroleum industry will be shared between the federal government, the country’s six constituent member states and local communities.

Somalia
Subscriber

The Ministry of Petroleum and Mineral Resources is seeking a consultant to assist with the development of the planned Somali Petroleum Authority (SPA). The SPA will act as the industry regulator; its mandate is outlined in the 2017 petroleum bill, which is awaiting parliamentary approval. The bill, amending the 2008 petroleum law, was approved by cabinet in 2017. In June 2018, the federal government and federal member states reached an agreement on ownership, management and sharing of Somalia’s oil and mining revenues.

Somalia
Subscriber

Somalia launched an offshore licensing round on 7 February, offering 15 blocks in the Indian Ocean off the coast of Galmudug, Hirshabelle, South West and Jubaland states. Its promoters hope that similar geological structures to those harbouring gas offshore Mozambique, Tanzania and Kenya are oil-bearing offshore Somalia. The event, which was live-streamed by Somali TV, aimed to underline to Somalis back home and in the diaspora the government’s commitment to transparency in exploring its oil and gas potential.

Somalia
Issue 372 - 29 June 2018

Somalia agrees revenue sharing

Subscriber

The federal government and federal states have agreed draft oil and mining regulations covering ownership and revenue sharing but Somalia is still a long way short of finalising the regulatory conditions needed for exploration to start. The framework authorises the Ministry of Petroleum and Mineral Resources to issue permits and manage petroleum and mining activities, but the Petroleum Law, which was updated in 2016, still needs to be ratified by parliament before any production-sharing agreement can be negotiated with the ministry.

Somalia
Issue 353 - 15 September 2017

Somaliland: 2D seismic

Subscriber

Genel Energy and Sterling Energy have completed the acquisition of 1,000km of 2D seismic on the onshore Odewayne Block. Sterling said the acquisition was double the minimum 500km work obligation for the block’s third exploration period, for which Sterling is fully carried by Genel for all costs.

Somalia
Subscriber

DP World Group of the United Arab Emirates has started work on a 30-year concession to develop and manage a multipurpose port in the Somaliland commercial capital of Berbera. The $442m project, to be developed in two phases, aims to create a new trading hub for East Africa. The project will include the construction of a 400-metre quay and 250,000m2 yard extension, and the creation of a free zone offering tax advantages and investment incentives.

Somalia
Issue 341 - 02 March 2017

Soma director named Somali PM

Subscriber

Soma Oil & Gas executive director for Africa Hassan Khaire has been named as prime minister in the government of new Somali president Mohamed Abdullahi Mohamed. Soma said Khaire had resigned from the board and relinquished all his shares in the company. Khaire, 46, had worked with Soma since the company was founded in 2013, and before that as director for the Norwegian Refugee Council for Somalia and East Africa, having come to Norway in the late 1980s as a refugee.

Somalia
Issue 340 - 16 February 2017

ICJ can adjudicate border case

Subscriber

The International Court of Justice in The Hague has ruled that it can hear the dispute between Somalia and Kenya over their shared maritime border in the Indian Ocean. The court found that it did have jurisdiction to adjudicate on the dispute, and that Somalia’s application is admissible (AE 339/19). Kenya now has until 18 December to file a counter-memorial.

Kenya | Somalia
Issue 339 - 03 February 2017

ICJ to decide on border case

Subscriber

The International Court of Justice (ICJ) in The Hague was due to rule on 2 February on whether it has jurisdiction to hear the dispute between Somalia and Kenya over their shared maritime border in the Indian Ocean. Somalia referred the dispute to the ICJ in 2014 (AE 325/18). Kenya maintains that the boundary should be a straight line running directly east from the point at which the two countries meet on land, while Somalia proposes that the boundary should follow a median line broadly equidistant from both coastlines in accordance with clause 15 of the UN Convention on the Law of the Sea.

Kenya | Somalia