Somalia to Take Advantage Global Interest on its Oil and Gas Deposits

Somalia license round data and blocks (Photo Credit: TGS)

The Somali government has placed exploration of its oil and natural gas barrels as a top priority for energy sector growth.

Mogadishu will launch its bid licensing in South Africa in November at the African Energy Week to accelerate production and reaffirm its standing as the world’s last hydrocarbon frontier.

Somali officials are expected to encourage investors from Africa, international stakeholders and national and international oil companies in the continent’s top energy markets to bid for the oil and gas blocks.

Somalia’s first ever licensing round for seven exploration blocks ended in March 2021.

The country has not been explored for decades. The licensing of the exploration by the Somali Exploration Authority is supported by some 20,185 km seismic data and 20,500 Km of existing seismic data acquired in 2014.

The South African government-endorsed event to be held in Cape Town will contribute and drive the conversation on oil and gas exploration in the continent. 

The African Energy Week 2021 aims to speed up oil and gas investment while ensuring the continent makes progress in its transition to clean energy.