Statistic Information by Soma Oil and Gas belongs to Somali government and its people, says Petroleum Minister

Somali Minister of Petroleum and Mineral Resources, Mohamed Muktar Ibrahim has voiced about the statistic information carried out by Soma Oil and Gas Company which prior signed oil exploration contract with Somali federal government, which has not yet handed over to the government.

In an exclusive interview he gave to Universal TV, the minister said that no one can keep Somalia’s natural resources information in a pouch, therefore the information will be handed over to Somali government within the month of August this year.

“Legality, the data is belongs to Somali government and its people, so that is not dubious, but the important thing how to handle the information in solitude, placing and Keeping it for the sale, It does not make meaningful to get the date and keeping it in a room as the information can fall into the hands of wrong people which can lead more economic damage to Somali government” he said.

“Somalia’s natural resources information cannot be put into someone’s pocket, you can understand how limited facilities we have here, even if we get the information, the marketing, and safeguarding of the information needs a lot of efforts,” he added.

 

He highlighted that when comes to drilling and production of oil, there should be two important factors to consider, protecting from wrong hands and measures to prevent creation of new conflict over it.

The minister distanced any contract between the government and the company over the production of oil but the task given Soma Oil and Gas Company to do, before production contract, as he said that there should be the regulatory and legal framework, including the amending of some provision in the Petroleum Law, introducing revenue sharing mechanism that distributes the wealth generated from oil and gas equitably between the Federal member States and the Federal Government, using an agreed formula.

About Somalia’s Mineral Resources, Muktar said that somali government signed accord with International Atomic Energy Agency (IAEA) on controlling of minerals that can be use chemical weapons.

He also highlighted that they held talks with UNDP which had information about mining in the country as it surveyed from 1965 to 1975.