Somalia’s oil may secure the peace
The federal country is on the verge of launching a licensing round that could be transformative for the country—if IOCs are convinced by improvements to the security situation
The geology of offshore Somalia is proven— and fresh details attracted even more attention at Africa Oil Week in November—as the country prepares for its much-delayed first licensing round in December. An independent assessment of the 15 blocks has found there may be 30bn bl of oil in shallow and deepwater, which is easily accessible so long as it remains free of the piracy that afflicted the area in recent memory. Since the merger of subsurface data providers Spectrum and TGS this year, the Somali offshore has been supported by “a much bigger data library”, according to the first scientist to evaluate it, Karyna Rodriguez, vice president of geosciences at TGS. “We really see oil potential a
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind