Somalia Petroleum Corporation formed...

[General Duke]

 

Somalia in JV with KEC and Medco Energi International

Posted to the Web Aug 19, 06:44

 

KUWAIT: The government of Somalia signed a shareholders agreement with Kuwait Energy Company (KEC) and Indonesia''s Medco Energi International Tbk on Tuesday to govern the activities at the Somalia Petroleum Corporation.

 

According to the agreement, the government of Somalia will hold a 51 percent stake, while Kuwait Energy Company and Medco Energy International will each hold 24.5 percent.

 

Addressing the members of the press on the sidelines of the signing ceremony, Somalia''s Minister of Energy and Mining, Eng. Mohamoud Ali Salah Kanje said: "This is a milestone event for the Republic of Somalia.

 

Forming Somalia Petroleum Corporation not only provides a firm and transparent basis for developing the oil and gas industry in Somalia, but it in addition it enables the Ministry of Energy and Mining to tap into the natural resources of the country to generate revenue for its people thereby eradicating the prevailing poverty and eliminating the prevailing instability."

 

The deal comes as a part of the Petroleum Law of Somalia which was approved by the President Abdullahi Yousef Ahmed on August 7.

 

Commenting on the strategic tie up, CEO of Kuwait Energy Company, Sara Akbar, said: "We are delighted to have executed the Shareholders'' Agreement with the Transitional Federal Government of the Republic of Somalia along with our strategic partner in Indonesia, Medco Energi International.

 

The three of us have been working closely for three years to get the Petroleum Law of Somalia enacted and form the Somalia Petroleum Corporation.

 

We hope this collaboration will not only generate income for Somalia, but will also assist in building the infrastructure of the country for the general welfare of its people. We are very happy to be able to help Somalia and look forward to continued cooperation."

 

Meanwhile, commenting on the tie up with KEC and Somali government, CEO of Medco Energi International, Darmoyo Doyoatmojo said: "Medco is proud to have been the pioneer, along with its partner Kuwait Energy Company, and a catalyst for building the foundations of the oil industry in Somalia.

 

 

The oil and gas industry could prove to be a significant source of income for the Government, while directly or indirectly reducing unemployment in the years to come, leading to the establishment of local Somali service companies. We look forward to building our relationship in Somalia."

 

Somalia has been without a fully functioning central government since 1991. De facto decentralization of political power occurred in the 1990''s, with varying degree of control achieved by militia and clan leaders in some parts of the country, while traditional forms of governance reـestablished political stability and functioning administration in other regions, namely Puntland and Somaliland.

 

It is anticipated that following the enactment of the Petroleum Law and the formation of the national petroleum company, there will be a model production sharing agreement, with the intent of launching an international bidding round for exploration blocks in Somalia during 2009.

 

 

SOURCE: Alwatan

[General Duke]

Dowladda kmg ah oo heshiis la gashay shirkado shisheeye ah

 

Kuwait City (HR Media) Dowladda kmg ah ee federaalka ayaa heshiis dhinaca shidaal qodista ah la saxiixatay labo shiarkadood oo laga leeyahay dalka Kuweyt iyo Indonisia.

 

Heshiiska ay dowladda kmg ah la saxiixatay labada shirkadood ayaa noqonaya mid xoogga lagu saari doono sidii ay saami ugu yeelan lahaayeen hab maamulka shirkada Patroolka Soomaaliyeed.

 

Shirkadaha ay dowladda kmg ah heshiiska la saxiixatay waxay kala yihiin Kuweyt energy Company (KEC) iyo Medco oo laga leeyahay dalka Indonisia.

 

Sida heshiiska ku xusan dowladda kmg ah waxay yeelan doontaa 51% saamiga batroolka, halka labada shirkadood ay kala yeelan doonaan min 24.5%.

 

Wasiirka Macdanta iyo Batroolka ee dowladda kmg ah Eng: Maxamuud Cali Saalax (Qanje) oo dhinaca dowladda kmg ah u saxiixay heshiiskaasi ayaa sheegay in heshiiskaasi lala galay shirkadahaasi uu muhiimad weyn u leeyahay dalka iyo dadyowga Soomaaliyeed.

 

Waxa uu sheegay in heshiiskan uu qeyb weyn ka ciyaari doono sidii meesha looga saari lahaa sabooltinimada iyo shaqo la’aanta hareysay dalka oo idil.

 

Sara Akbar oo ka tirsan shirkadda Kuweyt Energy ayaa sheegtay in ay u aragto heshiiska ay la saxiixdeen dowladda Soomaaliya mid wax ku ool ah.

 

Shirkadda Medco ee dalka Indonisia ayaa si la mid ah u soo dhoweysay heshiiskaasi oo ay sheegtay inay iska kaashanayaan hirgelintiisa shirkadda Kuweyt.

 

Soomaaliya ma lahayn dowlad dhexe oo awood leh tan iyo 1991-kii.

 

Heshiiskan dowladda kmg ah ay la gashay shirkadahaasi waxaa uu tixraacayaa sharciga batroolka ee dalka oo la sheegay madaxweyne C/laahi Yuusuf Axmed inuu saxiixay 7 August.

 

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[General Duke]

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