LONDON, September 26, 2014 /NEWS.GNOM.ES/ –
Soma Oil & Gas Exploration Limited, (“Soma Oil & Gas” or “the Company”), the Somalia-focused oil and gas exploration company, is pleased to announce 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
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.”
- Written by Abdullahi
- Category: Press Release