First oil drilling in Somalia will start this year

[Bazed]

The company digging oil in Somalia is Registered in Texas. It's weird, this entire company was created just for Somalia. It's website and linkedin only mention Somlia and no other operations or points of focus

Hydrocarbon industry for Somalia - Coastline Exploration

Government and, by extension, the Somali People share in fees, rentals and support payments, during exploration and then during development periods share in royalty, profit sharing and tax revenues for all commercial petroleum discoveries. Exploration and Production companies (E&P), typically...

coastlineexploration.com

No wonder americans are bringing some boots to the ground to protect their interest kkkkkkkk

The Americans aren't bringing troops, they're simply building bases for American trained somali troops. They understand their investment is linked to the security of the nation and as such will bolster it. This isn't a surprise, no country does anything for free.

 

[Aseer]

You expect Somalia to tell the US to get fkd? Look at Syria and where they occupy, Libya and so on. All these countries refused to tow the line and they got fkd. We're currently getting massive help in many ways from the US. I'd rather we do business and stay on their good side. Btw if we had a bad relation with the US the maniac in Addis would be occupying Somalilands by now.

Exactly I want it to be a south korea-america type relationship or maybe the saudi type and i am happy USA is getting involved it could deter Ethiopia and this is a sign that USA is choosing who to support since their support for Ethiopia has been waning due to abiys bad diplomacy and cosying up into the Russian and Chinese sphere of influence so it's only natural for us to enter American influence to deter them and to get help for developing and etc. And we have a small population so we would see lots of results very quickly with US support.

 

[CABDULWALI XASAN.]

Somalia must be careful, Oil is a good and bad thing.

Oil will allow somalia to develop quickly, making up for the past 30 years of unstablity, however Oil isnt a good thing to base your economy off of. Theres a good chance with this will be a resource curse for somalia, In my opinion I believe that the government is not the greatest in managing things but who knows.

Also Somalia must quickly develop its own refineries, we cannot end up like other countries which simply export the good without receiving any of the benefit. (Nigeria for example)

Also this Oil won't be very good for the economy, it will make everything dependent on oil. The best explanation I can give is someone receiving inheritance money. They didn't really work for it and they dont have a way to replenish that money.

The best option would be to fully nationalize this oil, however with this government I don't ever see it happening in a way which would benefits the people.

Also if everything does end up going to plan, we should still heavily invest in other sectors... and also to not turn into something like dubai or any of those arab countries. I really do not want the country to be littered with disgusting copy and paste buildings and developments