Somalia’s energy sector poised for take off
Somalia’s Minister of Petroleum & Mineral Resources says the upcoming offshore 15 block licensing round is a ‘game-changing development’ that will benefit the entire population
If you were to ask where one of the world’s most significant hydrocarbon investment opportunities is located, not many would say Somalia. But, increasingly, it is recognised as a potentially huge, secure and fiscally attractive frontier prospect poised for take-off. In a turbulent region, this game-changing development will play a key role in transforming the lives of its people. The federal government has put in place a unique revenue-sharing agreement with our member states, which are set to receive an unparalleled up to 70pc of potential future petroleum revenues. Small but symbolically important early revenues from surface rentals paid by Shell and ExxonMobil are going to be distributed
Also in this section
20 March 2026
Attacks on key oil and LNG assets across the Gulf mean a prolonged supply disruption, with damage to Qatar’s export capacity undermining confidence in the global gas system
20 March 2026
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
20 March 2026
Disruptions to Qatari LNG exports have highlighted the risks of concentrated supply, potentially strengthening the long-term position of US exporters despite limited near-term flexibility
20 March 2026
The extent of the US-Israel war with Iran means there will be no going back to the previous market equilibrium no matter how the conflict ends
