SFO investigates Soma Oil & Gas

Allegations of corruption in Somalia.

Serious Fraud Office investigating oil firm Soma

BY MICHAEL HOLDEN AND DRAZEN JORGIC

Britain’s Serious Fraud Office (SFO) has launched a criminal investigation into the British exploration firm Soma Oil and Gas, which has been searching for oil in Somalia.

The SFO did not outline the corruption allegations against the company, whose London headquarters were searched on Wednesday.

The United Nations last year called for a moratorium on any new exploration deals in Somalia, warning such agreements could fuel tensions and potentially spark new conflicts as rivals fight for resources in the fragile Horn of Africa nation.

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Source: uk.reuters.com