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Wednesday, April 24, 2013

Oil Companies Indicate Renewed Interest in Somalia


The head of Somalia's state- owned Somalia Petroleum Corporation has said that the country plans to sign 30 oil and gas production-sharing contracts this year.

Three of the international companies operating in Somalia in the 1980s (Royal Dutch Shell Plc (RDSA), Eni SpA (ENI), and ConocoPhillips (C)) are reported to have said they are ready to operate again in Somalia.

BP Plc (BP) is also said to indicated interest. The government in Mogadishu is currently reviewing legislation to manage oil and gas exploration and exploitation.

Source: AllAfrica

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