Statement Regarding Africa Oil's Activity in Somalia

Somalia is going through an unprecedented period in its history with a real opportunity for all stakeholders to assist in the rebuilding of the country. We believe that any discovery of oil, and the associated revenues that could potentially be derived from this, could significantly aid the rebuilding of the country in the long-term. However as always there are challenges. We recognise the border dispute between Puntland and Somaliland and, for this reason, have not conducted any operations in this area to date, and will not do so until a peaceful resolution is reached.

Africa Oil is also actively engaged in discussions with a range of governments and organisations, domestic and international, as well as other industry players on how best to take forward the exploration of these resources across the country in a way that reduces rather than exacerbates tensions on the ground. This includes discussions around how Somalia can develop the institutions and systems it needs to best manage these resources in terms of good governance and financial transparency.

Alex Budden
Vice President - External Relations