Mohamed Hashi Abdi ‘Arabey’, the Director General of the Somali Ministry of Petroleum and Mineral Resources, announces that Turkey will commence oil drilling off Somalia’s extensive coastline next year.
According to the East African, Abdi confirmed the recent assertion by a Turkish official about a plan for a deep-sea oil operation by 2025.
Abdi affirmed the agreement with Turkey, confirming that seismic surveys and drilling operations will commence along the coastlines adjacent to Barawe and Hobbio districts. This aligns with the announcement made by Turkey’s Energy and Natural Resources Minister, Alparslan Bayraktar.
In early March, Somalia signed a new oil and gas deal with Turkey, which officials of both countries said would aid cooperation in the exploration and exploitation of petroleum products.
The deal was inked in Istanbul by Somalia’s Petroleum and Mineral Resources Minister Abdirisaaq Omar Mohamed and Turkish Energy Minister Alparslan Bayraktar.
Somalia’s minister, Omar Mohamed, who signed the cooperation in exploration and exploitation deal, explained that both countries had a bilateral understanding, describing a broad cooperation framework.
An official Somalian memo said the deal targets hydrocarbon reserves in Somalia’s exclusive economic zone, but little was said about how revenue from the investment was going to be shared.
The minister further indicated that revenue sharing will emerge when the parties reach a stage to sign a Production Share Agreement (PSA).
The Turkish energy minister claimed that the deal would bring more benefits to the Somali government and people.
The Turkish minister emphasised that through this agreement, they will conduct collaborative efforts to ensure the resources of Somalia benefit the Somali people.
He further explained that Turkey seeks to establish its presence in the Horn of Africa with new deals in the field of energy.
