Somalia’s first licensing round could be a tough sell
The former “failed state” needs to deliver on its promises if the bidding process is to be a success
The launch of a Somalian offshore licensing round at a London roadshow in February did much to showcase both the geological potential of the acreage on offer and the efforts being made by the fragile state's government to lure foreign investors who have been absent for decades. But oil companies will be wary of making substantial investments in a country that, until recently, was a by-word for political instability. The authorities will also need to convince them that production-sharing agreements (PSAs) on offer will be legally binding. Seismic survey firm Spectrum, which organised the roadshow in conjunction with the Somali government, is promoting 15 newly offered blocks in both shallow
Also in this section
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
8 January 2026
The next five years will be critical for the North Sea, and it will be policy not geology that will decide the basin’s future
