Soma Petroleum

[Suldaanka]

Soma Petroleum

 

Timeline

> Mid-2004 - agreements signed, financing in place.

> Late-2004 - start of first stage exploration activity.

> 2005/2006 - progress in exploration activity

> 2007 - establishment of commercial extraction infrastructure.

> 2008 - first revenues from commercial operation.

Is this another international scum?

[wind.talker]

Fill the pockets of government officials with cash, exploit the poor ol' niggers for all their worth, and return to their extravagant mansions in Paris and L.A. When White people are involved, its always a scam. :mad:

[Suldaanka]

Wind

So you are implying that they are real gold diggers, right?

 

Sxb, if they are going to dig that black thing out, why not. inay meesha horta wax ku jiraan aanu aragno, otherwise living on a fake dream is a big problem. If they can prove that by 2008, which is only 2.5 years from now, I am all array of teeth.

 

But I am thinking they are full of hot air and nothing more.

[wind.talker]

^^

 

Plenty of hot air and useless steam, to be honest. But, have you ever asked yourself of the possible pitfalls of digging oil in Somalia/land? For example, in Nigeria, oil-rich states have been engaged in a virtual rebellion against the Nigerian federal government for mismanaging funds. I believe that the same will be true for Somalia/land if Somali politicians of today don't devise a clear policy of oil fund management and distribution. (i.e. If the oil comes from the Berbera area, a certain amount of the funds should be invested directly into the area of the source (Berbera, in this case). We all know how these politicians don't have these policies, sxb. Without policies in effect, oil will undoubtedly become another source of conflict in our conflict-ridden region of the world.

 

2008 (insha Allah) seems like an unrealistic goal. P.S. What is the Riyaale admin saying about this?

[Sky]

looks like a scam, just like that hafza thing. no selfrespecting businessman would choose somalia as a place to invest in.

[LANDER]

Originally posted by Suldaaanka:

Wind

So you are implying that they are real gold diggers, right?

 

yes indeed black gold diggas .

 

On the real though, all this talk of oil is somewhat worrisome with the current state of affairs. With the older generation of politicians being in power, it could lead to a situation of state exploitation by these multinationals as is documented in other countries. For some reason I just can't picture Riyalee negotiating terms of contract and bargaining against a conniving profit driven MNC. They could probably show him prune juice and convince him of it being petroleum. Someone mentioned Nigeria, coincidently I had recently read a case study about Shell and Nigerian Oil and the ethical violations and injustices that arose from that case would serve as a blueprint on exactly what to avoid in future similar endeavors. Not only was shell polluting much of the country side with its faulty pipelines that leaked millions of gallons of oil into the ground, contaminating all nearby areas, but a study and comparison of it business practices in other countries revealed that it was using old and outdated equipment in Nigeria that clearly did not meet the standards used in other western countries and yet felt free to use it in Africa and Latin America due to the lack of proper background institutions to enforce any standards or laws (should they exist in the given country). As a matter a fact it turned out that 40% of all Shell’s worldwide oil spills happened in Nigeria alone. Aside from the environmental problems, there is also many other sources of conflict with the Nigerian oil namely the exploitation of land dwelled on by minorities and the ethnic oppression and tension created by the coming of shell. Many of the oilfields could be found around the Niger river in Nigeria where a minority ethnicity called the Ogoni lives, this ethnicity is quite distinct from the others in Nigeria and there population is very small numbering some half million people in country with about 150 million. Yet it is the Ogoni whom have suffered the most from the coming of Shell and who’s lands have been destroyed from the practices of that MNC. They even made a song that translated in English as “The flames of Shell are flames of Hell,

We bask below their light,

Naught for us to serve the bright,

Of cursed neglected and cursed shell.â€

Can you imagine if significant oil reserves were found and exploited in the inner ravine area of the Juba and Shabelle rivers of Somalia?(similarly inhabited by a minority) Would such a scenario have taken place or could it take place in the futur? For somalis ethnic/tribal association is enough for genocidal wars across barren desert lands, adding a dangerous mix of lucrative oil fields could fuel and already smoldering fire (no pun intended). A spark could easily be created by the disovery of a said field in any given hot spot (i.e. a Kismayo, Galkacyo, lascanood etc...) and of course not mutualy exclusive to such volatile areas.

 

P.S. for further reference to the Nigerian oil case search for Newbury, Gladwin (I think)

[Fyr]

Lander I’m too troublesome of the current stat of affairs but I’m bit sanguinity about the upcoming parliamentary election which I hope to diminish the current administrations power. With a new opposition majority in the parliament, the current administration wouldn’t be able to sign any deal which would mean stat exploitation. Thank Allah for houses like the Guurti which is a big plus for us compared to other countries that are being exploited.

 

Lander you can’t compare us with the Nigerians with its 200+ ethnic groups and with a long-lasting ethnic and religious tensions. The funny thing about this federal is that the president is both chief of state and head of government, this got to be the most corrupt country in the world right now.

 

May Allah ensure us of better feature and stable and viable republic. May Allah purge all corrupted politicians of our beloved republic. amiin

[Suldaanka]

WIND & LANDER

 

I agree with you guys that there needs to be a clear vision as to how it would be managed in a beneficial and economically sustainable manner.

 

The current elites in the SL admin are too corrupt for them to assume the responsiblity of this huge task. I mean, they are strugling to manage the current national budget which suffices to beanuts if you compare the revenue that would otherwise pour in from oil exports. We are talking about a possible revenue that runs in the hundreds of millions if not billions of dollars.

 

The way I see this is that it is a must for us to have an Independent committee of trustworthy Somalilanders similar to the one that oversees Chad's oil.

 

In Chad they have a well organised Oil Watchdog which administers and manages all the oil revenues according to a national development plan that was agreed by all the parties concerned. This includes the local inhabitants which according to the plan receive 25% of the total revenue invested in their region.

 

Berbera which at this very moment is the main bread winner recieves nothing from the budget. It would be like adding insults to injury if they fail to get anything from the oil as well.