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UPDATE:

Somaliland's National Electoral Commission [NEC] expected to announce final result of the poll later today or Tomorrow morning - Sources View More

Somalia: IRN speaks about standoff over Somalia Oil Summit

Press Releases
ByStatement , IRN

NAIROBI, Kenya - In light of recent communications in reference to the Somalia Oil, Gas & Mining Summit 2018, taking place March 19-21 in Nairobi, we feel it is important to clarify the history, official support, and rationale of this important forum.

We received a letter of endorsement from the Somali Federal Government almost two months ago and were subsequently surprised to receive communication from the Minister of Petroleum and Mining of the Federal Republic of Somalia on 5th November, which we hope will be resolved quickly.

From July 2017 we have been in communication with various stakeholders within Somalia to organize a forum which addresses the significant potential hydrocarbon reserves in the region, which can provide a real boost to developing Somalia bringing jobs, investment and further stability to the country.

We have organized such events for Governments and national oil corporations across the world for the last 6 years, often bringing great benefit to the countries. We have also organized regional events covering oil and gas in countries around the Red Sea and the Arabian Sea in previous years at which Somalia was among the countries represented.

We were and remain happy to have received the letter of official endorsement on 19th September to commence organization of the forum. This is not the first of such events, with similar Somalia Oil and Gas forums being organized by the other UK based conference organizers in London in 2013, 2014, as well as a recent investment conference in London.

Somalia is a country of enormous potential, in terms of its people and its resources. Having worked with Governments around the world we have seen first hand over the years how a successful national oil and gas strategy can provide a huge boost to national development policies, employment, and prosperity and this is precisely the aim of the upcoming summit — to attract investment to the country.

We are still talking with the Federal Government of Somalia on the issue and we hope to resolve as soon as possible.

We look forward to working with all stakeholders to further develop this forum which can bring such benefit to Somalia and the Somali people.

IRN Statement:

Read GO's previous report on this Oil Summit.