Somalia’s Oil & Gas Sector Attracting Investor Interest

Somalia govt. welcomes investor interest, and govt. won’t rush into any deals, Petroleum Minister Mohamed Mukhtar says in statement on Sunday.

* We are not about to rush into any deals that may compromise

the federal government’s ability to use any income generated

 to its own advantage * Petroleum Ministry working w/ African Development Bank to

develop fiscal/legal procedures to support petroleum

exploration, production * No production sharing ageements signed * “Recent reports that would suggest we are leaping into

deals with our eyes shut are unfounded”

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To contact the reporter on this story: Mohamed Sheikh Nor in Mogadishu at +44-20-7330-7500 or msheikhnor@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at +971-4-364-1029 orccarpenter2@bloomberg.net

Bloomberg

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