Somalia’s Oil & Gas Sector Attracting Investor Interest

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Somalia government welcomes investor interests, and govt. won’t rush into any deals, Petroleum Minister Mohamed Mukhtar says in statement on Sunday.

* We are not about to rush into any deals that may compromise

the federal government’s ability to use any income generated to its own advantage * Petroleum Ministry working w/ African Development Bank to develop fiscal/legal procedures to support petroleum exploration, production * No production sharing ageements signed * “Recent reports that would suggest we are leaping into deals with our eyes shut are unfounded.”

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