Soma Oil & Gas publishes letter to the United Nations Security Council

20 August 2015

Soma Oil & Gas Holdings Limited and Soma Oil & Gas Exploration Limited

(together “Soma Oil & Gas” or “the Company”)

 

Soma Oil & Gas publishes letter to the United Nations Security Council
Soma Oil & Gas, the UK-registered oil and gas exploration company focused on Somalia, announces that it wrote to Mr Rafael Dario Ramirez Carreno, Chair of the United Nations Security Council Committee pursuant to resolutions 751 and 1907 concerning Somalia and Eritrea, on the 17th August 2015 to request a meeting to discuss the allegations contained in the leaked confidential report by the United Nations Somalia and Eritrea Monitoring Group (“the Monitoring Group”).

In the letter, Soma Oil & Gas expresses concern about the Monitoring Group’s fundamental misunderstanding of the oil and gas industry and in particular, the Capacity Building Agreements (“the CBA”).

The letter and the appendices has been published on the Company’s website and can be viewed at by clicking here

 

Robert Sheppard, CEO of Soma Oil & Gas, said:
“Soma Oil & Gas looks forward to the opportunity to meet with Mr Rafael Dario Ramirez Carreno, to make clear the necessity for and positive impact of our Capacity Building Arrangement with the Ministry of Petroleum and Mineral Resources and to ascertain how our substantial investment and demonstrated commitment to the Federal Republic of Somalia can be further leveraged, through collaboration with the UN, to maximise the positive social and economic impact of Soma Oil & Gas’s work in-country.

It is disappointing the Monitoring Group chose to leak its draft report which includes a recommendation for an oil moratorium in the country whilst its own investigation, as it states, remains incomplete and is in our view, inaccurate. Furthermore, as a group mandated with reporting on security issues in the country, it is concerning that it would leak a report to the media which discloses the names of Ministry employees that may now be subject to targeting by militant, anti-government insurgents. 

The timing of this leak also coincides with what should have been a transformational period for the country’s oil and gas sector and the Company’s history, as we had completed the first phase of our Exploration Programme and were transitioning to the serious business of developing the offshore oil and gas resource of Somalia. These achievements lie in stark contrast to the continued criticism imposed on the Company and the SOA by the Monitoring Group from the very first day it was signed.

It is difficult for me to understand how delaying this process benefits the people of Somalia and furthers peace and stability in the region.”

 

www.somaoilandgas.com

 

FTI Consulting                                                                     +44 (0) 203 727 1000

Ben Brewerton, Sara Powell                                                somaoilandgas.sc@fticonsulting.com

 

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