Former Tory Leader Howard Moves To Strike Oil

A British firm chaired by former Tory party leader Lord Howard has signed a deal with the government of war-torn Somalia to hunt for oil and gas.

Soma Oil & Gas, founded earlier this year, intends to carry out offshore and onshore surveys despite a report last month from a United Nations monitoring group that foreign oil exploration could inflame conflict in the region.

Somalia, which has been fought over by multiple warlords, clan militia forces and Islamist insurgents, has effectively been in a state of civil war since 1991, though a conference in London in May - chaired by Prime Minister David Cameron - heard that significant progress to ease hostilities had been made under a new internationally-backed government in Mogadishu.

The oil deal is the first signed by the new administration, which is propped up by a 17,700-strong African Union force to fight off al Qaeda backed-insurgents and international aid.

The international community has invested millions to combat Somali pirates

Several of Somalia's potentially rich oil and gas blocs are claimed by rival companies, because deals were signed by the different authorities which emerged in the long years of war that preceded the appointment of the new government last September.

"It is expected that this will attract further investment and facilitate exploration in an area of immense economic potential for the nation," Somalia's Ministry of National Resources said in a statement.

The company, which expects to take up to 18 months to complete its surveys, said it would be working alongside Somalia's government to bring its oil and gas industry in to line with international standards.

Somalia remains a dangerous country despite peace efforts

Its statement said it would conduct seismic surveying in Somalia's territorial waters in areas agreed with the government and in certain limited onshore areas.

The aim, it said, was to "collate and reprocess historic seismic data using modern techniques" to prepare "an evaluation of Somalia's petroleum potential."

It is understood any finds could potentially lead to the firm participating in a bid process with oil and gas majors for extraction licencing.

Lord (Michael) Howard says he hopes to boost Somalia's economy

Lord Howard - who served as Home Secretary in John Major's government - said the survey deal reflected the "close collaboration" between Britain and Somalia.

"It is our intention to assist Somalia to develop an active hydrocarbons sector that will attract significant foreign investment to the country," he said.

His statement concluded: "We intend that Soma Oil & Gas' commitment in Somalia will boost the local economy and generate new opportunities for employment for Somali nationals."

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