Somaliland: Government Ratifies a Contract with British owned VITOL Oil Company


Investment Minister

By: By: Osman A.M

LONDON: (Somalilandsun) – The government of Somaliland has officially resumed the second phace of the talks between the world leading oil company known as VITOL which is owned by England.

The government delegate led by the Minister of Foreign Affairs and international Relations Hon. Mohammed Bihi Yonis held bilateral talks in London with heads of VITOL wherein both parties continued implementing the second phase of the earlier initiated talks.

The Minister for trade and international investment Hon. Dr. Mohammed Abdillahi Omar who was among the delegate gave a short preview of the talks that took place between the two parts. Dr. Omar said “Our journey to London with my counterpart for foreign affairs was to lure other British investors including VITOL which started earlier and that we believe that it has been a very fruitful discussions which is coming to a positive conclusion”.

Dr. Omar continued “We have discussed the second phase today ‘yesterday’ in London regarding programs including technical and financial implementation of programs suggested by VITOL”.

When asked the government capability of handling such an expensive investment he said that we already have other international investors operating in Somaliland among them Coca cola, Genel Energy and BOLLORE who are willing to oversee the transformation of Berbera Port Authority. Bollore monitors over 19 ports in African continent.

The Minister also disclosed that other investors that are not trusted by the world like Taiwan who have financial stability and Kurdistan who have deposit of crude oil are now coming to Somaliland.

Somaliland is a heaven of peace and stability in the region. We have also drafted new investment policies which we believe will suit foreign business investors.

Later the Trade Minister had an interview with the BBC Somali section and was asked if Somalia has any links with any bilateral contract to which Somaliland is a party, the Minister responded that talks between Somaliland and Somalia is narrowed between our borders, business and there should never share any others transactions and deals.