Big Oil Buy Out Rumors in Somalia Apparently th
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Posted On: 04/16/2014 8:10:53 AM
Big Oil Buy Out Rumors in Somalia
Apparently this has been in the works, Shell and BP already coming back followed by ENI and Concoco. The will have to buy up stakes by juniors like Amsas and KIMJF in order to avoid conflicts but millions are just a pittance for the big boys. The KIMJF NI 51-101 shows too much oil and gas to be ignored especially with the Ukraine crisis looming.
The Somali government has already started discussions with two previous concession holders – Eni and Shell – that want to reclaim their pre-1991 blocks and enter into production sharing agreements, says a senior government official. He adds that Conoco is also ready to reclaim its stake and that BP is considering the idea.
http://www.ft.com/cms/s/0/538e9550-b3e1-11e2-...z2z37FnNa9
Apparently this has been in the works, Shell and BP already coming back followed by ENI and Concoco. The will have to buy up stakes by juniors like Amsas and KIMJF in order to avoid conflicts but millions are just a pittance for the big boys. The KIMJF NI 51-101 shows too much oil and gas to be ignored especially with the Ukraine crisis looming.
The Somali government has already started discussions with two previous concession holders – Eni and Shell – that want to reclaim their pre-1991 blocks and enter into production sharing agreements, says a senior government official. He adds that Conoco is also ready to reclaim its stake and that BP is considering the idea.
http://www.ft.com/cms/s/0/538e9550-b3e1-11e2-...z2z37FnNa9
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