PM Khaire to open Summit on Somalia Oil and Gas in Kenya

Prime Minister Hassan Khaire will open a two day oil and mining summit March in Nairobi, the international events organising consultancy International Research Network has said.

According to International Research Network brings together oil sector mandarins and investors will explore prospects in the oil and mining sector in Somalia, legal, and security frameworks and information sharing on existing exploration data.

“The country’s Prime Minister Hassan Ali Khayre will open a 2-day conference that will serve as a platform where leading multinationals within the extractives and hydrocarbon sectors along with key investors and government dignitaries will be able to discuss a wide range of investment opportunities and ultimately, forge long term partnerships for the exploration and production of natural resources,” a pamphlet from IRN reads.

Noting that the Summit aims to unlock Somalia’s hydrocarbon industry potential and tap in to ‘a rich, virgin and diversified market’, IRN says the Somalia Oil and Gas Summit will focus on key areas including exploration and production activities, downstream opportunities, regulation and fiscal regime updates.

The Summit which is supported and endorsed by the Government as indicated in a letter from the Minister of State, Office of the Prime Minister attached to the pamphlet will feature other key speakers such as Central Bank Governor Bashir Issa who will brief the Summit on the economic landscape and long term potential of Somalia.

Others include Amisom Chief Francisco Madeira, Petroleum and Mineral Resources Minister Abdirashid Mohamed Ahmed among others.

Somalia signed an exploration data marketing agreement with UK based Spectrum ASA September 7, 2015 allowing Spectrum to acquire approximately 28,000 km of long offset 2D seismic data offshore south Somalia. Spectrum said it would use its global reach to market both data sets and raise industry interest in exploration offshore Somalia.