Oil and gas exploration firms from Somalia will be trying to generate further interest in the region at the second Somalia Oil & Gas Summit, which starts in London today.
Robert Sheppard, chief executive of the event’s lead sponsor Soma Oil & Gas, told City A.M.: “This is a great opportunity to highlight that the oil and gas sector is now an active part of Somalia’s future. If you look at the offshore area around Somalia, it’s the size of the North Sea and it’s got one drill in it. With the country’s continuing political stability and the exploration activity and success in east Africa, it builds enthusiasm to go into Somalia.”
According to Sheppard, companies will not be seeking funding at the conference, merely looking to raise Somalia’s profile.
He also stated that Ebola was not a concern for companies in Somalia: “The Ebola issue is a west Africa issue, completely the other side of the continent and at this point we haven’t seen any impact.”