Soma Oil abd Gas hopeful on its deal with the Somalia Government

Soma Oil & Gas, a UK-based company established to survey and explore oil and gas potential in Somalia, is the first to sign an oil deal with the new Somali government. The East African country has suffered from years of political unrest and violence since a civil war broke out in 1991, but saw the formation of an internationally recognized government with the inauguration of President Hassan Sheikh Mohamud in September last year.

Soma, which was only established this year, is headed by chairman Michael Howard, a former Conservative Party leader who has held various cabinet positions in British government, and CEO Robert Sheppard, an ex-BP executive with over 40 years’ experience in the energy sector.

According to Sheppard, Somalia’s oil and gas potential is relatively under-explored, and with recent discoveries in East African countries such as Tanzania and Kenya, Soma is reportedly investing over USD 20 million in exploring Somalia’s oil and gas potential. In addition, Sheppard said that the company believes Somalia is beginning to move in a positive direction under its new central government.

“There are green shoots of economic development, there are green shoots of stability, and we combine that with the exploration prospectively and for a first-mover… to fill that space very quickly I think is to Soma’s advantage.”

He added that Soma’s activities will be primarily devoted to offshore surveying and exploration. “That gives us more control over the environment and then diminishes the risk in that sense.”

Prior to the civil war, a number of major oil companies including Shell and Total had claimed and signed deals for oil blocks, and according to statements by Soma, the company will not impinge on these areas.

Concerns have been raised over Soma being picked for such a deal over more experienced oil players. The East African Energy Forum, a lobby group which seemingly aims to protect the natural resources and sovereignty of Somalia, has accused Soma’s deal of not being transparent. In addition, it has questioned Soma’s capacity and capability, considering that the company is only a few months old.

“I’m not sure what their concerns are,” Sheppard responded. “The transparency issues are pretty clear. We’ve got an open arrangement.” (How We Made it in Africa)


  • HarlanClode

    buy generic levitra canada
    levitra 20 mg
    how to buy levitra no prescription
    levitra online
    can you buy levitra walmart

    HarlanClode Friday, 20 October 2017 19:48 Comment Link
  • MatthewBlite

    buy cialis cheap
    generic cialis
    best place buy cialis
    buy cialis online
    discount card for cialis

    MatthewBlite Wednesday, 18 October 2017 14:51 Comment Link
  • JoshuaErano

    cialis mail order in canada
    buy cialis
    buy cialis with dapoxetine
    cialis on line no pres
    how to buy cialis in australia

    JoshuaErano Sunday, 15 October 2017 11:50 Comment Link
  • Stevenabelp

    cheap sildenafil canada
    viagra without a doctor prescription
    mua viagra online
    viagra from canada
    where do i buy viagra

    Stevenabelp Saturday, 14 October 2017 12:02 Comment Link
  • Stevenabelp

    efectos de sildenafil 50 mg
    viagra price
    long does take get viagra out your system
    buy viagra
    viagra online uk cheap

    Stevenabelp Saturday, 14 October 2017 11:58 Comment Link
  • Marionmum

    100mg of viagra
    viagra price
    cheap viagra buy
    viagra uk
    where can i buy sildenafil citrate

    Marionmum Saturday, 14 October 2017 00:54 Comment Link
  • JosephWedge

    viagra 50 mg packungsbeilage
    viagra pills
    price of cialis vs viagra
    viagra from canada
    compra viagra generico

    JosephWedge Friday, 13 October 2017 18:48 Comment Link
  • Wilmerlab

    the cheapest viagra
    generic viagra
    buy viagra mexico city
    buy viagra
    online viagra mastercard

    Wilmerlab Friday, 13 October 2017 11:28 Comment Link
  • Gilbertstaky

    online purchase viagra
    generic for viagra
    can viagra pill be cut in half
    buy viagra
    where to buy viagra in shops

    Gilbertstaky Thursday, 12 October 2017 12:04 Comment Link
  • DanielRoN

    viagra pillen bijwerkingen
    where to buy viagra
    what does a viagra pill do
    viagra sans ordonnance
    viagra 200 mg dose

    DanielRoN Thursday, 12 October 2017 00:14 Comment Link

Leave a comment

Make sure you enter the (*) required information where indicated.Basic HTML code is allowed.

Latest News

Ethiopia to Host the 4th International Coffee Conference

Ethiopia to Host the 4th International Coffee Conference

Ethiopia is set to host the 4th International Coffee Conference from March 6 – 8, 2016 in Addis Ababa at the United Nations Conference Center. Previous conferences were held  in England in 2001, Brazil in 2005 and Guatemala in 2010. Read more


UAE-backed Egyptian forces arrive in Eritrea...

ሰበር ዜና ብሄራዊ ባንክ ከነገ ጀምሮ የብር ምንዛሪ ተመንን በ15% እንዲገሽብ ውሳኔ አስተላለፈ፡፡ በተጨማሪም የገንዘብ ማስቀመጫ ወለድን ከ5% ወደ 7% ከፍ እንዲል ውሳኔ...
Follow EBR News on Twitter

Most Popular

  • 1
  • 2
Prev Next

The White-Box of Ethiopian Agriculture

The agricultural sector remains our Achilles heel, nonetheless, we remain convinced that agricultural-based development remains the only source of hope ...

Read more

For Whoever Has, to Him Shall be Given …

As the Ethiopian government seeks to transform the economy into one that’s rooted in manufacturing, the simplicity for local investors to access finance...

Read more


  • 1
  • 2
  • 3
Prev Next

Shooting in the Dark: The Anomalies of Headhunting

The war for ‘heads’ – also known as talent – has been raging for many years and the manner headhunters ‘poach’ people is getting tougher ...

Read more

Understanding Chinese Investment in Ethiopia A Critical Evaluation of the World Bank’s “Chinese FDI in Ethiopia” Survey

The World Bank country office in Ethiopia, apparently in response to the request by the government of Ethiopia, has conducted a survey of...

Read more

Mitigating Growing Income Inequality: What Needs to Be Done

Rising income and wealth inequality in many countries around the world has been a long-term trend for three decades or more. But the atte...

Read more

View Point

  • 1
  • 2
  • 3
Prev Next

Delivering Life Insurance: The Untapped Market in Ethiopia

Modern insurance transaction in Ethiopia was started by an Egyptian Bank in 1905. According to Ethiopian Chamber of Commerce there were 19, 33 and 40 insuran...

Read more

Cut Throat: The Vicious Cycle of Price Based Competition in Ethiopian Insurance Industry

For most, it was imprecise how Ethiopian insurers would manage their prices devoid of actuaries. As most insurers know, premium has a more significant impact...

Read more

Headache When a Key Personnel leaves a Company in the Financial Sector

The financial sector in Ethiopia has undergone considerable changes in recent decades. The dramatic rise of new market players into the sector has vividly al...

Read more