Somalia has similar geological characteristics to its three eastern African coast near-neighbours
Somalia seeks to kickstart oil and gas
The country might seem like an unlikely destination for oil and gas investors, but the recent award of seven offshore blocks to US independent Coastline Exploration demonstrates how it is working to revive its upstream sector
Somalia is one of the last major unexplored petroleum frontiers. In the past, it attracted the attention of IOCs including ExxonMobil, BP, Shell, Chevron, Italy’s Eni and US superindie ConocoPhillips—all of which held large concession agreements before the 30-year civil war that suspended exploration. Now, following the recent increase in oil prices and positive legal and regulatory developments, Somalia is hoping to exploit its large, prospective offshore reserves. Security in Somalia remains a concern, but the offshore situation has been transformed, with no piracy incidents reported in the UN secretary-general’s report for the year ending 31 October 2021. The African Union Mission in Soma
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
