2019-11-06· As a result, Spectrum stated that “offshore Somalia is about to become the hottest area offshore East Africa”. These results are already proving of great interest to the global oil industry, as many look to bid in the first licensing round for 15 blocks to be held later this year.
Get Price2019-07-14· Talks are now being held to enable the agreed concessions to be converted into revenue sharing agreements that will return 55 percent of offshore oil revenues to Somalia's central government, with the remainder being channelled to member states. A new licensing round, covering another 15 offshore blocks, has begun, with concessions expected to be awarded early next year.
Get Price2015-01-15· East African oil exploration, and in Somalia specifically, is not a secret.Energy firms like Royal Dutch Shell and Exxonmobil operated in Somalia before the government collapsed in 1991. But
Get PriceSomalia's oil and gas potential was the driving force that has attracted oil exploration companies to hunt for oil and gas. About 60 years ago Agip and Sinclair Oil Corporation began to study the petroleum geology of Somalia and ever since companies flocked to Somalia whenever it was possible.
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Get PriceUnder the terms of the RSA Somalia's central government will retain 55% of revenue from future offshore oil production while its member states will receive the remainder, according to an oil ministry statement released on Friday.
Get PriceNairobi December 26, 2018. Public Diplomacy and Regional Energy Opinion By. Hassan Mohamud . Educational purpose. Somalia's strategic location and it's natural resource enrichment has made the country an economic and geo-strategic gateway for the region as exemplified by the major presence of foreign companies […]
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Get Price2018-03-25· International researchers believe Somalia is the last remaining oil frontiers in Africa. The FGS signed two major exploration contracts between 2013 and 2016. The first was the controversial Soma Oil and Gas which acquired 12 offshore oil and gas blocks totaling 60,000km 2..
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Get PriceThe Central Bank of Somalia is the monetary authority of Somalia.Somalia has struggled to reestablish a functioning state since the collapse of an authoritarian regime in 1991. Somalia has been cited as a real-world example of an anarchist stateless society and a country with no formal legal system.
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