Soma Oil & Gas Exploration Ltd announces sponsorship of the CWC’s 2nd Somalia Oil & Gas Summit
Soma Oil & Gas Exploration Limited, the Somalia-focused oil and gas exploration company, is pleased to announce it will be sponsoring CWC’s Somalia Oil & Gas Summit for the second year running.
By: CWC Group
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.
Robert Sheppard, CEO of Soma Oil & Gas, said:
“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.”
H.E. Daud Mohamed Omar, Minister of Petroleum & Mineral Resources of the Federal Republic of Somalia, said:
“Soma Oil & Gas has been a good partner to the Ministry of Petroleum & Minerals of the Federal Republic of Somalia over the past year, and we are very pleased that they are sponsoring this event for the second year. 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."