oil refinery equipment factory in somalia

                                               
                                               
                                               
                                               
                                               
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  • 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.
  • What is the Somali Petroleum Authority & how does it work?
  • 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. Licensing rounds have the potential to generate much greater revenue for Somalia and its regions.
  • Does Mogadishu need an upgrade to support oil exploration offshore Somalia?
  • Mogadishu port will need an upgrade to support oil exploration offshore Somalia. REUTERS/Feisal Omar Somalia will in coming years become an oil producing country and build an industry that will create jobs and support economic growth, Ibrahim Ali Hussein, chairman and CEO of the newly created Somali Petroleum Authority, tells The Africa Report.
  • What if a contractor makes oil & gas discovery in Somalia?
  • If the Contractor makes oil and gas discovery, it should inform the Somali Petroleum Authority and submit a Development Program for exploration to start. The production period would be typically 25 years with the possibility of extension for 10 years. It should also prepare Production Work Program and budget annually
  • Does Somalia have petroleum resources?
  • The country, which shares the geological structure of the Arabian peninsula, ¡°undoubtedly has petroleum resources,¡± says Hussein. ¡°We have to start exploration. We can¡¯t afford to wait.¡± Somalia¡¯s first-ever licensing round for up to seven exploration blocks opened on 4 August and runs until 12 March 2021.
  • How much oil does Somalia have?
  • Geo-seismic studies have shown that Somalia may have at least 30 billion barrels of oil and gas reserves, but these resources will take time to develop, as detailed exploration generally takes three to five years, and production can only begin afterward.