Somalia: British Oil Firm Accused of Corruption in Somalia Exploration Deal

Sep 26, 2015 | Cholo Brooks, Global News Network
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A British oil exploration firm has been accused of corrupt payments to government officials in Somalia in return for rights to explore offshore for hydrocarbons, a claim the company denies. No one knows exactly how much oil and gas lies off Somalia’s coast, but some industry experts estimate the figure at 110 billion barrels. In 2013, the British start-up firm Soma Oil and Gas signed an agreement with the Somali government to explore for hydrocarbons — the first exploration deal since Somalia plunged into civil war in the early 1990s.