New oil deal signed by Somalia’s Minister of Petroleum rejected by President & PM

[ZodiaK]

Coastline Exploration Limited

/PRNewswire/ -- Coastline Exploration Limited ("Coastline"), the upstream oil and gas company focused on East Africa, announces that it has signed seven...

www.prnewswire.com

---

Coastline Exploration Limited
Feb 19, 2022, 07:00 ET

HOUSTON, Feb. 19, 2022 /PRNewswire/ -- Coastline Exploration Limited ("Coastline"), the upstream oil and gas company focused on East Africa, announces that it has signed seven Production Sharing Agreements ("PSAs") covering offshore, deep-water blocks of the Federal Republic of Somalia. These PSAs enable Coastline to proceed with plans to explore for oil and gas on the many prospects and leads identified in these offshore blocks.

W. Richard Anderson, Chief Executive of Coastline, commented, "Somalia contains the largest remaining unexplored set of basins situated in warm waters in the world. We are honoured and excited to be part of its future development. The Government of Somalia and the Ministry of Petroleum have spent a great deal of time and effort to ensure the country has the proper legal and administrative infrastructure to support oil and gas exploration with the passing of the Petroleum Law, adoption of the Revenue Sharing Agreement among the Federal Government and its Members States and the establishment of the Somali Petroleum Authority to provide continuing support for the anticipated growth in the sector."

Jake UIrich, Coastline's Chairman, continued "After a rigorous negotiating process, we are delighted to have signed these inaugural PSAs with the Somali Government. This marks a defining moment for the country. The way is now open for other oil and gas companies to join us in our quest for commercial discoveries through the current licensing round and, also through direct negotiations with the Somali oil and gas authorities. Revenues from the discovery of commercial quantities of hydrocarbons could be a major positive for Somalia from which the government could finance investments in education, infrastructure, healthcare and other vital services, which will benefit all of the people of Somalia, including women and minorities, by helping provide for continued economic growth and improving the standard of living."

The signing ceremony was witnessed, amongst others, by the Chairman & CEO and Vice-Chair of the Somali Petroleum Authority who highlighted their desire for the expected economic and social benefits for the Somali people.

About Coastline Exploration
Founded in 2018, Coastline Exploration was established to help develop the hydrocarbon industry within East Africa. Following the discovery of commercial quantities of oil in Kenya and Uganda, coupled with world-class offshore gas reserves in Tanzania and Mozambique, Coastline Exploration believes there is huge potential for further significant oil and gas discoveries across the region.

www.coastlineexploration.com

 

[TekNiKo]

Nabad iyo Nolol have done the unthinkable! Soon we will be oil rich nation like Arabs!

 

[TekNiKo]

From Gaajo too Gucci

 

[Jungle]

NEWS PROVIDED BY
Coastline Exploration Limited
Feb 19, 2022, 07:00 ET

HOUSTON, Feb. 19, 2022 /PRNewswire/ -- Coastline Exploration Limited ("Coastline"), the upstream oil and gas company focused on East Africa, announces that it has signed seven Production Sharing Agreements ("PSAs") covering offshore, deep-water blocks of the Federal Republic of Somalia. These PSAs enable Coastline to proceed with plans to explore for oil and gas on the many prospects and leads identified in these offshore blocks.

W. Richard Anderson, Chief Executive of Coastline, commented, "Somalia contains the largest remaining unexplored set of basins situated in warm waters in the world. We are honoured and excited to be part of its future development. The Government of Somalia and the Ministry of Petroleum have spent a great deal of time and effort to ensure the country has the proper legal and administrative infrastructure to support oil and gas exploration with the passing of the Petroleum Law, adoption of the Revenue Sharing Agreement among the Federal Government and its Members States and the establishment of the Somali Petroleum Authority to provide continuing support for the anticipated growth in the sector."

Jake UIrich, Coastline's Chairman, continued "After a rigorous negotiating process, we are delighted to have signed these inaugural PSAs with the Somali Government. This marks a defining moment for the country. The way is now open for other oil and gas companies to join us in our quest for commercial discoveries through the current licensing round and, also through direct negotiations with the Somali oil and gas authorities. Revenues from the discovery of commercial quantities of hydrocarbons could be a major positive for Somalia from which the government could finance investments in education, infrastructure, healthcare and other vital services, which will benefit all of the people of Somalia, including women and minorities, by helping provide for continued economic growth and improving the standard of living."

The signing ceremony was witnessed, amongst others, by the Chairman & CEO and Vice-Chair of the Somali Petroleum Authority who highlighted their desire for the expected economic and social benefits for the Somali people.

About Coastline Exploration

Founded in 2018, Coastline Exploration was established to help develop the hydrocarbon industry within East Africa. Following the discovery of commercial quantities of oil in Kenya and Uganda, coupled with world-class offshore gas reserves in Tanzania and Mozambique, Coastline Exploration believes there is huge potential for further significant oil and gas discoveries across the region.

https://coastlineexploration.com/

People go on their website, scroll down and there is a short video. They say themselves in the video that payments to somali govt start immediately after the signing of production sharing agreements which the ninister above days hes signed.

Also the company has no record of operations anywhere but they say they operate in Kenya, Tanzania and Uganda.

Its a quick payday for NN and nothing more.

Professor Yahya Amir quick with it. kheyr alle haa siiyo.

 

[reer]

https://coastlineexploration.com/

People go on their website, scroll down and there is a short video. They say themselves in the video that payments to somali govt start immediately after the signing of production sharing agreements which the ninister above days hes signed.

Also the company has no record of operations anywhere but they say they operate in Kenya, Tanzania and Uganda.

Its a quick payday for NN and nothing more.

Professor Yahya Amir quick with it. kheyr alle haa siiyo.

first step is extraction. nationalizing the oil similar to iraq and libya did is easier once extraction goes well.

 

[AMusee]

 

[TekNiKo]

Farmaajo has rejected it now I am confused sxb

 

[Bariire]

Let me guess its located on Galmudugs/HGs coasts.

No wonder HG MPs and Senators were with Fahad Yasin, ileen Money $$$ creates Friendship.

 

[TekNiKo]

 

[SPMLegend]

The oil story is getting boring now. N&N is known to have a reactionary stance on social media. First they make up a story than try to play the superhero scene 4 the dumb audience. First Soma Oil now coastline exploration Ltd.

 

[cow]

 

[Hassan Garguute Buldanana]

The squatter former President and PM both rejected this agreement signed by the minister. Smh, this is only possible with the 68er’s

 

[cow]

The squatter former President and PM both rejected this agreement signed by the minister. Smh, this is only possible with the 68er’s

wasiirka batroolka was an MP in baraawe for HOP45. he lost his seat both Farmaajo and laftagreen got rid of him because how close he is to Rooble.

now the wasiir just signed something that rooble was aware of however farmaajo wrote a letter 6 months ago forbidding any international deals being signed and today farmaajo wrote another letter confirming his previous stance and that he will hold anyone accountable for this. rooble panicked and distanced himself from it.

basically rooble threw wasiirka batroolka under the bus.

 

[cow]

This guy predicted it 4 days ago. and he hit it right on the nail.

 

[absame100]

This is null and void. We know PM Tuug wants this deal. No more corruption. Wait for the next President. They will go to jail for corruption.

 

[Jungle]

The post quoted by MP Abdulkadir Osoble was put out on the 15th.

 

[Dalalos_ibn_Adali]

Koonfuriya Hanoolaato

 

[Jiron]

Deals like this needs full public awareness, nothing should ever be signed with the acknowledgement of the people.

 

[Jiron]

I am proud of the swift action by our leaders in terminating this backdoor deal

 

[Galmudug-State]

This is null and void. We know PM Tuug wants this deal. No more corruption. Wait for the next President. They will go to jail for corruption.

Gedo, Galmudug oil and Gas is non of your business. The resources belongs to HG.