NAIROBI, KENYA – The Director General of the Ministry of Petroleum and Mineral Resources of the Federal Government of Somalia, Mr. Mahamud Hashi Arabey, participated in key review meetings of the IMF-ECF Program held in Nairobi, Kenya.
The discussions focused on critical areas related to the management and development of Somalia’s natural resources. Key topics included:
• Reviewing the legal framework of the petroleum law,
• Improving the models for Production Sharing Agreements (PSAs),
• And strengthening procedures for the licensing rounds.
The Ministry of Petroleum and Mineral Resources reaffirmed its commitment to establishing a transparent legal and regulatory framework aimed at boosting foreign investment and achieving sustainable development based on the country’s natural wealth.
The Ministry further emphasized the importance of international cooperation, particularly with financial institutions, to promote accountability and good governance in the management of natural resources.
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