Stephenson Harwood advises Soma Oil & Gas on $50m equity investment

Stephenson Harwood has advised Soma Oil & Gas Holdings on an equity investment of $50m (£30m) from private equity investment company Winter Sky.

The funding will enable Soma to take forward the initial stages of an exploration programme, agreed with the Federal Republic of Somalia in 2013, to develop the country’s energy sector.

The additional funding will satisfy Soma’s obligations to the government of Somalia under a seismic option agreement, on which Stephenson Harwood also advised Soma in August 2013.

The principal Stephenson Harwood team advising Soma included lead partner Jeremy Sheldon, working with Tony Edwards, Judith Elgood and Barbara Allen.