Somalia is poised to witness oil drilling activities along its extensive coastline as Turkey prepares to commence operations by 2025. Mohamed Hashi Abdi Arabey, the Director General of Somalia’s Ministry of Petroleum and Mineral Resources, confirmed this development, echoing recent statements by a Turkish official regarding plans for a deep-sea oil venture in the region.
Abdi affirmed the agreement with Turkey, indicating that seismic surveys and drilling activities are scheduled to commence along the coasts adjacent to Barawe and Hobbio districts. The agreement follows Somalia’s recent signing of a new oil and gas deal with Turkey, aimed at fostering cooperation in petroleum exploration and extraction.
The deal, inked in Istanbul, was formalized by Somalia’s Petroleum and Mineral Resources Minister Abdirisaaq Omar Mohamed and Turkish Energy Minister Alparslan Bayraktar. Mohamed emphasized the bilateral understanding between the two nations, framing it within a comprehensive cooperation framework. He also hinted at future revenue-sharing arrangements pending the signing of a Production Share Agreement (PSA).
Bayraktar, Turkey’s energy minister, underscored the mutual benefits of the agreement, emphasizing its potential to facilitate resource utilization for the Somali government and its people. He expressed optimism about the collaborative efforts aimed at harnessing Somalia’s natural resources for the nation’s prosperity.
