New code aims for clarity and stability

摘要

SOMALIA'S 2019 Petroleum Law currently awaiting presidential assent envisages signature of production sharing contracts by the first quarter of 2020 with fresh seismic and exploration drilling carried out through to the end of 2021, writes Barry Morgan. According to Somali Petroleum Minister Abdirashid Mohamed Ahmed, the new law imposes revenue sharing terms ensuring that one third of all revenue generated will over time accrue to non-federal institutions.