Serious Fraud Office Opens Corruption investigations on Soma Oil and Gas in Somalia

United Kindgom’s Serious Fraud Office has confirmed that it has opened a criminal investigation into SOMA Oil & Gas Holdings Ltd, SOMA Oil & Gas Exploration Limited, SOMA Management Limited and others in relation to allegations of corruption in Somalia.

According to the SFO website the investigating institution is seeking information from whistleblowers with inside information.

“Whistleblowers are valuable sources of information to the SFO in its cases.  We welcome approaches from anyone with inside information on all our cases including this one – we can be contacted through our secure reporting channel, which can be accessed via the SFO website,” read a statement from the SFO.

The company says it is confident that it will be cleared off the allegations as it has carried its activities in a transparent and lawful manner

“Soma Oil & Gas can confirm that it has been informed by the Serious Fraud Office (“SFO”) that it is investigating an allegation that has been made against the Company.  Soma Oil & Gas is confident that there is no basis to the allegation and it is co-operating fully with the SFO to answer it’s queries. Soma Oil & Gas has always conducted its activities in a completely lawful and ethical manner and expects this matter to be resolved in the near future,” posted a statement by Soma Oil and Gas website.

Soma Oil & Gas which was founded in early 2013 expressly with a view to exploring in Somalia has on its board members including: former leader of the Conservative Party in Britain Lord Howard now the Chairman having held the post since May 2013, former Chairman of Eurasia Drilling Company Lord Clanwilliam, one of the founding investors in Ophir Energy plc Basil Shiblaq who is the Executive Deputy Chairman among others.

Soma Oil and Gas that in June concluded a 122,000 sq km 2D seismic acquisition is set to benefit from blocks with an area of up to 60,000 sq km under a seismic option agreement with Federal Government of Somalia.