customization oil refined making equipment in somalia

                                               
                                               
                                               
                                               
                                               
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  • Why is Somalia launching its first offshore licensing round?
  • Somalia is one of the few remaining frontier oil and gas exploration territories and the Somalian federal government is promoting its advancement by launching its first ever offshore licensing round. We look at the latest developments. Since the late 60s, civil unrest has prohibited the exploitation of Somalia¡¯s offshore oil and gas resources.
  • Why does Somalia need a Petroleum Authority?
  • ¡°It created a petroleum authority that can negotiate with international oil companies, which has been a main concern for potential investors,¡± says Prasad. After passing the law, Somalia reached an agreement with a Shell/Exxon joint venture (JV) for an initial roadmap to explore and develop potential offshore oil and gas reserves in march.
  • What oil companies operate in Somalia?
  • Energy firms like Royal Dutch Shell and ExxonMobil operated in Somalia before the government collapsed in 1991. In 2020, the government passed a petroleum law under which the Somali Petroleum Authority was established to regulate the industry and guide deals with international contractors.
  • Will Somalia attract foreign investment to develop oil & gas?
  • Now, however, after several years of relative peace, the government is making a bid to attract foreign investment to develop the country¡¯s oil and gas riches. In May, Somalia¡¯s Ministry of Petroleum and Mineral Resources launched its first offshore licensing round, featuring up to seven blocks that can be bid for between August 2020 and March 2021.
  • Why is Somalia so important?
  • Why Somalia? Offshore Somalia remains one of the last truly frontier oil & gas basins in the World, with only two exploration wells, drilled offshore along the 1,000 km-long margin. It could become one of the most significant hydrocarbon plays in offshore East Africa.
  • Does Somalia produce oil?
  • As such, Somalia, which relies heavily on fossil fuels for its energy supply, does not produce oil. Keen to change this fact, the government ratified a new Petroleum Law in February, revoking the one passed in 2008. How well do you really know your competitors? Access the most comprehensive Company Profiles on the market, powered by GlobalData.