SOMALIA: British Firm to Explore Somalia Billions of Oil Barrels

Oil_well

British oil giant British Petroleum signed concessions with the Petrol Department for the Somali Federal Republic to explore oil and gas in the war raven East African nation.

Intelligence reports existence of significantly large oil deposits in Somalia which could change global prices if tapped.

The Somali shores of Indian Ocean could be having some of the worlds largest oil deposits.

Experts geographical assessments point out billions of oil barrels are reserved untapped in Somalia.

Intelligence collected by Strategic Intelligence shows Somali Puntland province has 10bn barrels of oil reserves, making one of the top 20 countries holding oil.

A company that drilled wells in Puntland estimate 4bn barrels (about $500bn worth at today’s prices) in its two discoveries in Somalia.

If drilled, Somali oil would flood the market beating countries like Nigeria and Kuwait to make Somalia the 7th largest oil producer in the world.

Source:Intelligence Briefs

5 COMMENTS

  1. The first somali civil war 1988 in what now called Somaliland, oil was main cause. SNM fighter decided to fight against dictator Siad Barre before he gets oil money.
    So oil was primary cause

  2. Dhulkeena Somalia kheyraadka kujira kuma koobna petrol & oil oo kaliya kheyraadka ilaaheey nagu hibeeye wey fara badantahay
    dhul iyo badba (xoolo,beeraha,macdanta,kalluunka), laakin walaalayaal ma ila qabtaan ra’yiga ah in meel aan cadaalad, sinnaan, nabadgelyo jirin waxba kama soconaayaan kheyraadkana inta eey nicmad noqod leheyd yeena isku badalin musiibo…insha Allah aniga waxaan rajeynaa shacbigeena soomaaliyeed iyo dowladaba waa eey kafaa iideysan doonaan kheyraadka kala duwan uu ilaaheey nasiiye…ilaaheeyow nooga dhig wadankeena Somalia nabad,barwaaqo iyo dad walaal ah isna jecel…aamiin.

LEAVE A REPLY

Please enter your comment!
Please enter your name here