Date set for first Somalia investment conference

[GaadhHaye]

In short, today’s Daily Nation report is saying Somalia is rich in both onshore and offshore resources. Before the civil war many western oil companies were operating in the country.

 

But as huge amounts of oil and gas have been discovered in East Africa that has yet to be developed, we have Financial Times reporting, a while ago, that major oil companies are willing to come back to Somalia in full force despite the war.

 

I think the tendency to fragmentation and the horrible civil-war induced culture of extreme polarization of the regions will subside as the real work of hydrocarbon exploration commences. In the case of Nigeria with a population of more than 140 million, the underpinning force that holds the 240 ethnic groups of even different religion in one nation-state is the huge oil and gas resource being exploited.

 

On the other hand, economics rule. Kenya and Ethiopia’s best interests lay with cooperating with the IC in establishing a strong federal government in Somalia because oil and gas companies operate productively in peaceful zones.

 

President Hassan may emerge winner from the current Kismayo crisis. His PM is given the podium in Nairobi to sell the Somali national resources to the world.

 

DAILY NATION, MAY 27, 2013

 

A major investment conference for Somalia is slated for Nairobi next month.

 

The First Somalia Oil and Gas, Investments, Security and Infrastructure Conference is set for June 17.

 

It will precede the East African Petroleum conference that is also going to be held in Nairobi from June 18 to June 20.

 

A statement from Amsas Consulting marketing and public relations manager D. Farah said Somalia’s prime minister will explore prospects, opportunities, strategic challenges and the way ahead for investments into Somalia. The conference is to be opened by Inter-Governmental Authority on Development executive secretary general Mahboud Maalim.

 

There’s now renewed international interest on Somalia which is struggling to regain its footing following an end of decades of civil war.

 

Somalia enjoys huge fishing, oil and gas resources.

 

Before the country broke into war, 15 major international oil companies were operating in Somalia, some of which want to come back.

 

There are 12 hydrocarbon basins in Somalia. The horn of Africa country also enjoys huge forestry and fish resources.

 

The conference will look into exploration priorities of Somali, both onshore and offshore.

 

Meanwhile, opposition leaders in the breakaway Puntland in Somalia want the international community to intervene and ensure democracy, peace and stability prevails in the state.

 

Led by presidential candidate Abdullahi Ali, the leaders accused the current regime in Puntland of dictatorship and wanting to interfere with free and fair elections in order to continue in power.

 

Speaking in Nairobi, Dr Ali said it was wrong for the current regime in Puntland to push for elections without use of identification documents to ensure transparency and fairness.