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Soma Oil & Gas to Co-Sponsor Somalia Oil, Gas & Mining Summit

Source: www.gulfoilandgas.com 4/21/2015, Location: Africa

Soma Oil & Gas Exploration Limited, the Somalia-focused oil and gas exploration company, will be co-sponsoring the Somalia Oil, Gas & Mining Summit. Other confirmed sponsors include: Schlumberger, Salama Fikira, Castor Vali, and Argus Media.

Following the exploration successes of the past year and the increasing appetite for international investment in Somalia’s oil and gas sector, the Somalia Oil, Gas & Mining Summit will be taking place on the 27th – 28th April 2015 at the Grange Tower Bridge Hotel, London, UK.

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 successfully completed a 20,500 km 2D seismic survey offshore Somalia in 2014, with the finalisation of the data processing expected to be completed in Q2 2015. To date, the Company has invested approximately US$40 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:

“With recent exploration activity triggering the reopening of the country’s hydrocarbons sector, Somalia’s oil and gas industry is poised for transformational growth in the coming years. The Somalia Oil, Gas & Mining Summit represents a unique opportunity for key industry figures to come together to identify exploration opportunities in the highly prospective jurisdiction of the Federal Republic of Somalia. Bringing together key representatives from the Federal Government’s Ministry of Petroleum & Mineral Resources, International Oil Companies, National Oil Companies, independents, oil service companies and wider industry stakeholders, this conference will be an important event for the country and the industry.”

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