Kuwaiti Energy signed an agreement to establish a national Somali oil company

Sarah Akbar Executive Chairman of the Kuwaiti Company for Energy Said that the company has signed a partnership agreement with the Somali government and the International Indonesian Energy Company Miedco to set up a governmental company for oil in Somalia.

She told the channel “CNN, NBC Arab” television that under the terms of the agreement, the Somali government owned 51 percent of the Somali National Petroleum Corporation, while the remainder will be distributed equally between the two companies.
Grant Paulr the director of international business for Miedco informed television channel in comments to be broadcast on Wednesday that the Somali company will soon bid to explore for oil, gas and open areas to receive offers by International oil and gas companies.
He expects the start of this round of presentations before the end of next year.