Somaliland: Under Investigation Soma Oil Paid SFG Top Dollar-Leaked


Capacity Building Letter to the Minister 25.04.14 1 2

Somalilandsun – The Somalia Federal Government’s-SFG ministry of petroleum acknowledges that its oil exploration partner British exploration firm Soma Oil and Gas is undergoing criminal investigation by Britain’s Serious Fraud Office (SFO).
As the ministry reiterated transparency and promised to cooperate in the SFO investigation in relation to allegations of corruption in Somalia, leaked details pertaining to Capacity building arrangements and payments between the partners raises eyebrows for one cannot fail to connect the May 2015 hefty payments with the 90% Revenue awarded the British firm from any profits accrued under its Product Sharing Agreement with the SFG
According to Open Oil, the world’s largest public online database of oil contracts, the Product Sharing Agreement-PSA between the Somalia Federal Government-SFG and Soma oil & Gas holdings Ltd is unprecedented on its kind anywhere in the world.

Read the Leaked Capacity Building Letter