large flax seed oil refinery plant in somalia

                                               
                                               
                                               
                                               
                                               
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  • 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.
  • Which oil companies are exploring in Somalia?
  • International oil companies including Chevron, Eni, ExxonMobil and Shell began exploring in Somalia in the 1950s but bolted when the country erupted in civil war in 1991. Today, though, Houston-based Coastline Exploration is leading a renewed charge, having acquired seven offshore blocks from Somalia's federal government in 2022.
  • 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.
  • When will Somalia launch its first offshore oil & gas licensing round?
  • 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. Angola West Hub Project Panorama - Oil and Gas Upstream Analysis Re... MENA Oil and Gas 2022 - The outlook for oil, gas and petrochemicals...
  • Is Somalia a 'Final Frontier' for global oil & gas development?
  • There has been renewed interest in exploration plays in Somalia, one of the final frontiers for global oil and gas development, with energy security back on the political agenda in the East African country following years of conflict and instability. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.
  • Why did oil and gas companies leave Somalia?
  • Prior to the conflict and collapse of the government in 1991, international oil and gas majors had exploration agreements in Somalia, but they withdrew from the country because of the civil war. Energy firms like Royal Dutch Shell and ExxonMobil operated in Somalia before the government collapsed in 1991.