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Somalia to start offshore oil production in 2020

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XimanJaale
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Somalia to start offshore oil production in 2020

Postby XimanJaale » Tue Oct 21, 2014 5:38 am

Somalia’s Petroleum Minister Daud Mohamed Omar announced that the country planned to take control over the hydrocarbon sector to produce oil within six years. The Ministry drafted bills for revenue sharing and downstream development, and submitted them to state governments for approval, Omar said in a statement at the second annual Somalia Oil and Gas summit in London.

Omar stressed that the government would protect the rights of concession holders; however, he warned that firms not “sit on the nation’s assets” by keeping force majeure clauses active.

Copyright 2014. Petroleum Africa https://www.oilandgaseurasia.com/en/new ... ction-2020
The federal government parliament are about to pass a oil bill/revenue law soon. :som:

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Re: Somalia to start offshore oil production in 2020

Postby Cunaaye25 » Tue Oct 21, 2014 5:58 am

Imagine that, the oil wells are located in jubbaland,Puntland, Maamulka gobalada dhexe, Southwest state ,,,,,and so forth, how will you divide the $$$ money between the federal Government and the federal states.
50/50 or 80/20 to the federal state?

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Re: Somalia to start offshore oil production in 2020

Postby XimanJaale » Tue Oct 21, 2014 6:05 am

Your opinion
Imagine that, the oil wells are located in jubbaland,Puntland, Maamulka gobalada dhexe, Southwest state ,,,,,and so forth, how will you divide the $$$ money between the federal Government and the federal states.
50/50 or 80/20 to the federal state?
The oil well is located in Somalia no matter if it is in Puntland, Jubbaland or Gobolada dhexe. So the federal government must have all the oil revenues whilst distributing the wealth to all the different Somali federal member states. So if there is 6 federal member states in Somalia, the government should allocate 10% oil revenue to all the 6 member states and the federal government keeps the remainder 40% something along that line.

You should look at the USA federal model. :|

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Re: Somalia to start offshore oil production in 2020

Postby LiquidHYDROGEN » Tue Oct 21, 2014 6:06 am

Just in time for when most developed countries have already moved onto other better and more efficient forms of energy production e.g. Hydrogen fuel and nuclear fusion.

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Re: Somalia to start offshore oil production in 2020

Postby XimanJaale » Tue Oct 21, 2014 6:09 am

Just in time for when most developed countries have already moved onto other better and more efficient forms of energy production e.g. Hydrogen fuel and nuclear fusion.
Oil and Gas industry is still the number 1 energy system of the world (petrol, heating etc). Besides don't compare Somalia with the developed countries, we are not in the same situation. Keep your obsessive criticism and negativity out of my thread please. I only would like realistic people in here. Cheers

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Re: Somalia to start offshore oil production in 2020

Postby LiquidHYDROGEN » Tue Oct 21, 2014 6:12 am

I will comment wherever I like. If you don't like criticism that's your problem. You don't own Somalia I can say what I like about it. I wasn't comparing Somalia to industrialized countries but they will be the major export market. If you don't even understand what I was getting at, why reply?

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Re: Somalia to start offshore oil production in 2020

Postby XimanJaale » Tue Oct 21, 2014 6:20 am

I will comment wherever I like. If you don't like criticism that's your problem. You don't own Somalia I can say what I like about it. I wasn't comparing Somalia to industrialized countries but they will be the major export market. If you don't even understand what I was getting at, why reply?
What does them being major export market got do to with Somalia offshore oil production in 2020? It is not like the demand of oil and gas will stop in the next hundreds of years if not thousand!

Your criticism isn't even a criticism but pessimism. You don't know how to criticise things. All you do is whine, complain and bring negative aura to different arguments. I don't know but I think you are depressed deep down. Maybe you need personal reflection and worry about the deep pessimism that is stuck to you. Also I worry of you, always hating on other ethnicities or countries. All you do is hate hate hate and spread pessimism.

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Re: Somalia to start offshore oil production in 2020

Postby LiquidHYDROGEN » Tue Oct 21, 2014 6:26 am

Somalia neither has the infrastructure nor the expertise to exploit the oil. It would take a decade or two to finally kick off and reap the benefits (that's if the crooks haven't pocketed all the money). By that point the west and East Asian countries would have finally developed feasibly alternatives like nuclear fusion.

Like I said,
...If you don't even understand what I was getting at, why reply?
Lakiin, if you want to derail your own thread into baseless Ad Hominems, I'm happy to oblige. :up:

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Re: Somalia to start offshore oil production in 2020

Postby XimanJaale » Tue Oct 21, 2014 6:42 am

And how do you know that Somalia doesn't have the expertise and infrastructure of offshore oil industry by 2020? Also last time I checked it is oil companies that are investing in Somalia, so it's not like Somalia is busy trying to create their own oil company from scratch.

Back to your question of the 'developed' countries progressing the use of oil over other conventional inventions for energy, that will take a long time. And if they find a breakthrough it will take another long time to bring that system into the commercial field. So either way Somalia doesn't lose out in anything, if anything it will gain more profit as oil prices rises in the near future. :lol:

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Re: Somalia to start offshore oil production in 2020

Postby LiquidHYDROGEN » Tue Oct 21, 2014 7:04 am

It won't take a long time for alternative energy to become prominent since most of the techniques have already been around for decades, it's just a question of making them more feasible economically. I reckon by 2030/2040, most developed countries will have become more self-sufficient in energy production reducing fossil-fuel consumption drastically.

As for oil companies investing in Somalia, that is what I was referring to. It will take a few decades due to a lack of social, legal and physical infrastructure in Somalia. The oil corporations arrived in the gulf arab countries in the 60s and 70s, but most states didn't see major economic gains until the late 80s and 90s at best. And that is with dowlado that were nationalistic and well run - Somalia doesn't even have that. Also back then Oil was scarcer and the introduction of arab oil was welcomed by the US and the west to satisfy their domestic needs and economic growth (the fastest economic growth in American history happened from 1950s-1970s). Nowadays, western nations, especially US, Canada and the even UK are already finding major oil/gas deposits within their own territories and will have less of a demand for foreign oil.

You seem to think I am downplaying the oil discovery, I am not. Somali needs cheap oil and I welcome it. Lakiin to assume Somalia will suddenly become like oil rich gulf states and immediately pump crude is foolishly naïve. The future of Somalis lies in the untapped Uranium in Central Somalia.

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Re: Somalia to start offshore oil production in 2020

Postby FAH1223 » Tue Oct 21, 2014 7:09 am

Turkey needs energy sources. They will gladly assist in making this happen.

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Re: Somalia to start offshore oil production in 2020

Postby LiquidHYDROGEN » Tue Oct 21, 2014 7:13 am

Yeah, I'm pretty they've realized that as well. :lol: Why else are they in Somalia?

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Re: Somalia to start offshore oil production in 2020

Postby 1nemansquad » Tue Oct 21, 2014 7:28 am

It won't take a long time for alternative energy to become prominent since most of the techniques have already been around for decades, it's just a question of making them more feasible economically. I reckon by 2030/2040, most developed countries will have become more self-sufficient in energy production reducing fossil-fuel consumption drastically
not only is oil/gas critical now, but there are no viable replacements in our lifetime. people who think renewables can replace oil within few decades are simply ignorant of how big oil really is. there is no reason whatsoever to think any feasible amount of renewables growth can displace fossil fuels in a couple generations. wind and solar are growing exponentially, yes, but from such a small base that it doesn’t even make a dent (i have all the stats)

sorry buddy, but regular old exponential growth isn’t even enough to match oil, you’ll need half a century or more of clear energy superiority. that means cleaner and cheaper and more concentrated for storage. as of now, nothing fits the bill yet. to replace oil, you’ll need a century to allow the entire economy to retool and realign around the new technology and dispose over a century old industry; that is unthinkable feet

not to mention the amount of wealth that is generated from.. entirely another chapter of discussion itself

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Re: Somalia to start offshore oil production in 2020

Postby LiquidHYDROGEN » Tue Oct 21, 2014 7:43 am

Yes right now, oil is still king of the hill. But game changers always happen. It doesn't help that the oil corporations heavily suppress government investment in other areas e.g. all that malarkey about Fukushima daiichi when it was actually a very old almost obsolete plant. Also my argument wasn't Somalia's oil wouldn't be valuable, my argument was that it would be naïve to think that any huge money would come in the next decade or so and when it does eventually start paying off, most countries would've found more reliable source anyway. Either way, predicting a huge sector like Oil/gas is foolish. Let's see what happens if we live long enough inshallah.

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Re: Somalia to start offshore oil production in 2020

Postby whitehartlane » Tue Oct 21, 2014 8:15 am

Liquid

Your argument is invalid because of the way you presented it. You sound little aggressive and your negativity is little bit pathetic.

I dont fancy this regime or any other group of people in xamar calling themselves officials however 6 years can yield an oil export level production.

A nation outiside the western political atmosphere can successfully install oil infrastructure in the space of 6 years. All that this nation needs is potential that is recognised or dollars to match the construction fees


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