Pontus Marine LTD- Leader of fishing industry in Somaliland

Sunday, April 13, 2014

Leaked : Revenue from oil blocks in Somaliland

 - April 13 2014 - The following receipts are among some that have been issued for the tax on the rent of oil blocks in parts of Somaliland.
The first one belongs to block 18 rented to the Norwegian Oil Exploration company DNO while the second receipt covers the rent of the 4 oil blocks currently under exploration in the country. It seems that sums don't tally and that the monies have been deposited into Somaliland central bank to the credit of  Giri Treasury - an obscure entity that is not known to the public. 

  

Calculations of land rented to different oil exploration companies in Somaliland should have been based on the following according to the leaked information :  6000km+44000km+12000km+30000km Sq multiply by 50$ per square km for period of four years. These are 4 blocks including Genel which took 44,000 Sq km .
Corruption allegations among some of the Somaliland ministries and other departments of the government have been reported in the local media  recently .  Both the press and others who communicate through other means such as chatting or word-of-mouth have been talking about the subject lately. Rumours or fabricated ? may be ; but this is getting out of hand .
It is about time that government departments  exercise transparency and accountability in their transactions with both  local businesses and foreign companies in Somaliland.
Medeshi
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