The finance minister has said addresing the meeting: international investors and multi-national corporations are turning their attention to somalia and we must now seze the opportunity
"We are ready for bussiness" he added
From his side the resource minister has stated that " any contract that was given or awarded by a federal member state is not valid"
"Companies holding those licenses should should start negotiation with the federal government" he added
This an old date release
Somali government & Soma to give key note addresses at CWC’s Somalia Oil & Gas Summit
H.E. Fausia Y Haji Aden, Deputy Prime Minister & Minister of Foreign Affairs & International Cooperation, H.E. Abdirizak Omar Mohamed, Minister of National Resources, Federal Republic of Somalia and Soma Oil & Gas’ CEO, Robert Sheppard will give the opening key note addresses at CWC’s Somalia Oil & Gas Summit on Monday 07 October 2013, London, UK.
Delegates will hear from the Somali government and Soma Oil & Gas, a company founded to pursue oil and gas exploration opportunities in Somalia, on the country’s hydrocarbons potential.
Somalia plans to increase the number of oil and gas exploration blocks to 300 of 5,000 square km each by sub-diving the existing 25 areas. The aim will be to sign up to 30 oil and gas production contracts over the next year.
Soma’s work programme will entail seismic surveying, collation and analysis of data of both off-shore and onshore uncontested areas agreed with the government. This will include the acquisition of 2D seismic, the reprocessing and consolidation of pre-existing data, and the creation of a data room.
According to Sheppard, “Soma has identified an opportunity to conduct exploration in Somalia as it emerges from a lengthy period of civil conflict. Despite large recent discoveries in East Africa, Somalia remains a significantly underexplored region. We believe that this agreement to assist the Government and the work that is due to be carried out over the next 12-18 months will provide significant momentum for the oil and gas sector in Somalia.”
Somalia’s senior government representatives and Soma, the lead sponsor for the event, will discuss a new era of opportunities in the Somali oil & gas industry, including regulatory and legal frameworks as well as contract prospects for potential investors.
...somebody better keep an eye on those two and their accounts have to be checked and scrutinized 
