Can Somalia’s new PM deliver on reform promises?
In addition, the government has instructed Attorney General Suleiman Mohamed Mohamud to investigate the contract and take appropriate legal measures.
Oil and gas explorers use seismic surveys to produce detailed images of the various rock types and the location beneath the earth’s surface and to determine the location and size of potential oil and gas reservoirs.
A source within Coastline Exploration Ltd revealed that both Farmajo and Roble were aware of the signing of the deal from the beginning and the firm will share evidence to prove its claims if required.
But immediately after the announcement the country’s top leadership — the president, the prime minister, and the auditor-general — declared the deal null and illegal.
Tullow has said that the land acquisition hitches coupled with unfavorable global oil prices since 2014, a tax dispute, and Covid-19 disruptions have delayed Kenya’s bid to commercialize the Turkana oilfields.
As Somalia finalized its Petroleum Law, the outgoing Federal Government face accusations of failing to comply with the new regulation after signing secret oil deals with foreign firms.
The agreement’s basic principles are designed to ensure fair investment in development across the country while recognizing the different requirements in regions closely involved in the production.