Somalia Targets Shell, Eni for Oil, Gas Output-Sharing Contracts


Source: Bloomberg

Somalia plans to sign 30 oil and gas production-sharing contracts this year, starting with companies that operated in the country before its government was toppled more than two decades ago, an official said.

“All prior holders have been contacted and three are ready to continue,” including Royal Dutch Shell Plc (RDSA)Eni SpA (ENI), and ConocoPhillips (C), Hussein Ali Ahmed, managing director of the state-owned Somalia Petroleum Corp., said in an interview on April 18 in the Kenyan capital, Nairobi. BP Plc (BP/) has indicated an interest in returning, while Chevron Corp. hasn’t formerly answered the Somali government’s call to come back, he said.

Somalia is one of the last frontiers for oil and gas in eastern Africa as it recovers from a two-decade civil war that shattered the economy and left the nation as one of the world’s least developed. In the region…

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