The Federal Government of Somalia (FGS) is preparing a Tender Protocol for Oil and Gas Licensing.
The federal Ministry of Petroleum announced that it is drafting the protocols.
This emerged after the Financial Governance Committee (FGC) held a meeting on June 22 to discuss this and other issues.
The petroleum ministry’s Director-General briefed the FGC on the progress of the drafting stage.
He told the FGC that the new tender protocols would adhere to the requirements of the Procurement and Petroleum Laws of the country.
Further, the status of the agreement that the ministry signed with Coastline Exploration Ltd, a US-based firm, would be announced soon.