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| Last Updated: Apr 3, 2012 - 2:47:55 AM |
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Somalia: Andrew Mitchell: ''Britain has no commercial interest in Somalia’s oil''
27 Feb 27, 2012 - 9:01:45 AM
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LONDON, England Feb 27 2012 (Garowe Online) – Britain’s Secretary of State for International Development Andrew Mitchell has denied UK Observer’s claims that Britain has a commercial imperative in Somalia, Garowe Online reports.
The UK newspaper the Observer wrote on Sunday that Britain was providing humanitarian aid and security assistance in hopes to a stake of the oil or possibly exploration rights.
The Observer who spoke to Puntland Ministers said that Puntland was offered help in future management of oil revenues. Puntland was also offered technical help and building of oil capacity by oil giant British Petroleum.
Andrew Mitchell who spoke to BBC’s Andrew Marr stated that Britain has no intentions in exploring oil in Somalia. “Of course, of course if oil is found and developed, we want that oil to work for the benefit of the Somali people,” said Mitchell, “But the British Government's development efforts are engaged to make sure that the money is accounted for, spent transparently, and works for the benefit of Somalis.”
Oil drilling has already begun in Puntland and is expected to be extracted in the following weeks. There is an estimated 4 billion barrels of oil in Puntland Dharoor valley according to African Oil but other surveys suggest the exploration site contains double that.
Since before the collapse of Siad Barre’s regime countries like China and the US have been interested in exploring Somalia’s potential oil fields.
GAROWE ONLINE
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