southern somalia offshore oil exploration starts soon

[Rambie]

Not sure what you mean. SL & PL are save, but no one wants to dreal there.
I've been hearing about the oil in Somalia since I was born, still nothing so far.

SL & PL are not national governments and hence unreliable and fall into the same political instability bracket as the south.
Big companies want to deal only with stable national governments.

Notice how all the companies that have attempted to get into Somalia's oil are shitty small companies, while Chevron/Shell/BP/Exxon/Conocophillips etc avoid Somalia like the plague.

Kurdistan which is the Iraqi equivalent of SL started pumping
oil from Kirkuk oil field without the consent of the Iraqi central government.

I think there is like 2-5 Billion barrel of recoverable oil in all of Somalia(lands) combined.
Nothing else explains the lack of significant discovery of oil anywhere in Somalia.

[LiquidHYDROGEN]

So let me get this straight. Somalia, a nation with no institutions, stability, capital/money, political or military instruments wants to drill oil?

Priorities people, priorities.

The natural resources of Somalia should be left alone until we can get stable, representative, low-corruption government that can control all of Somali territory. Making deals with foreign vulture corporations before we reach that stage would be a recipe for disaster that would make Nigeria look like a model state.

[grandpakhalif]

Whatever happened to Puntland's oil prospects, I heard they found mineral water

[Itrah]

Kurdistan which is the Iraqi equivalent of SL started pumping
oil from Kirkuk oil field without the consent of the Iraqi central government.

I think there is like 2-5 Billion barrel of recoverable oil in all of Somalia(lands) combined.
Nothing else explains the lack of significant discovery of oil anywhere in Somalia.

It's not comparable.

US is heavily involved in that region which makes big corps more comfortable. In Somalia there's barely any major US involvement. Look at it from their perspective..

[Lamagoodle]

AUN MSB started that process with Conoco and Shell but there HQs were looted and ransacked, I believe they still have a valid 30yr contract that still hasn't expired. Interested to see where this "Spectrum" came from

True, Cononco and Shell were given rights. They left before the collapse of the government though; according to the maxaa la sheegay news on the streets of Yoobsan, they were pressured by Saudi Arabia and other Opec nations.

They could have valid rights.

New technology has made it possible to explore/discover oil.

There are two other known natural resources in Somalia; Uranium ( Buur Haybe near Buurhakaba/Yaaq bariweyne/Leego area). And gas desposits in the Afgoye area.

[GAMES]

Whatever happened to Puntland's oil prospects, I heard they found mineral water

[gegiroor]

Somalia has one of the largest hydrocarbon and natural resources in the world, and this is the reason why you have the endless civil war and interferences from other countries, including big powers.

It is really sad that this impotent government is getting into these agreements without having a full functioning state. It reminds me how Congo (formerly Zaire) is getting looted when its people are suffering. Somalia is no different as it will be kept in the current impotent status while its resources are looted as well.

[GAMES]

Somalia has one of the largest hydrocarbon and natural resources in the world, and this is the reason why you have the endless civil war and interferences from other countries, including big powers.

It is really sad that this impotent government is getting into these agreements without having a full functioning state. It reminds me how Congo (formerly Zaire) is getting looted when its people are suffering. Somalia is no different as it will be kept in the current impotent status while its resources are looted as well.

So the whole civil war was just one big conspiracy by outsiders who wanted to keep Somalis from developing and accessing the oil buried in our soil?

I bet they also created Qabiils and put us all into different tribes so we can all fight against each other. :Lol:

[gegiroor]

Somalia has one of the largest hydrocarbon and natural resources in the world, and this is the reason why you have the endless civil war and interferences from other countries, including big powers.

It is really sad that this impotent government is getting into these agreements without having a full functioning state. It reminds me how Congo (formerly Zaire) is getting looted when its people are suffering. Somalia is no different as it will be kept in the current impotent status while its resources are looted as well.

So the whole civil war was just one big conspiracy by outsiders who wanted to keep Somalis from developing and accessing the oil buried in our soil?

I bet they also created Qabiils and put us all into different tribes so we can all fight against each other. :Lol:

You're wasting my time Games if I try to explain it to you.

[Itrah]

AUN MSB started that process with Conoco and Shell but there HQs were looted and ransacked, I believe they still have a valid 30yr contract that still hasn't expired. Interested to see where this "Spectrum" came from

I meant post-civil war.

Only minor league oil companies playing with speculative money have been trying in Somalia since 1991.

The big guys with market caps over 100 billion like Shell, Exxon etc are avoiding Somalia.

[Strategic]

I predicted success one year ago! everything went smoothly.

The total number of sail line acquired equates to 20,582.75 Km. The new acquisition will complement 20,000 km of existing seismic that was acquired in 2014. The two surveys will allow the in-depth study of hydrocarbon prospectivity offshore Somalia.

Spectrum have started to process the data, following which interpretation will begin in the third quarter of 2016 and its findings will be announced by the Federal Government. This effort will reveal the resources, whether oil or gas, hidden beneath the sea-floor of the Indian Ocean