Somalia-focused oil and gas Exploration Company Soma Oil & Gas Exploration Limited has announced it will be sponsoring the Somalia Oil & Gas Summit for the second year running.
Following the success of the inaugural event last year, the Somalia Oil & Gas Summit 2014 will be taking place on 20 October 2014, at the Jumeirah Carlton Tower, Cadogan Place, London, SW1X 9PY.
Soma Oil says the continued partnership is as a result of the continued desire by the company to support the government accelerate the oil and gas sectors.
“The past year has been transformational for both the oil & gas industry in Somalia and Soma Oil & Gas. Having completed the 2D seismic survey, we are now focused on the processing, reprocessing and interpretation of that data. Our work to date, along with the support of the Federal Government of the Republic of Somalia, has reignited interest in the country’s highly prospective upstream sector and we are delighted to be continuing to assist the government in accelerating the development of its oil and gas potential,” says Soma Oil and Gas CEO Robert Sheppard.
Soma Oil & Gas signed a Seismic Option Agreement (“SOA”) in August 2013 to assist the Government of the Federal Republic of Somalia in the development of the country’s hydrocarbons sector.
Soma Oil & Gas has successfully completed a 20,500 km 2D seismic survey offshore Somalia and has to date invested approximately US$37 million on the exploration programme, more than double the required spend under the terms of the SOA.
“We are very pleased with the growing interest in the Somalia oil and gas sector as evidenced by the expected attendance at the Somalia Oil & Gas Summit 2014. The Ministry welcomes the support of credible oil companies to sponsor the Somalia Oil & Gas Summit 2014, and I would like to encourage and thank the organisers, sponsors, speakers and delegates for their commitment to and participation in this most important event,” says Minister of Petroleum & Mineral Resources of the Federal Republic of Somalia H.E. Daud Mohamed Omar.
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