The nordicmonitor doesn’t seem like a credible source https://mediabiasfactcheck.com/nordic-monitor/
Historical disaster: Hassan Sheikh Mohamud gives Turkey 95% of oil royalties and 90% production
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What about the Turkish parliament?
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I was legit gonna post how there was only so much to bare just now
. May allah help us
OK that looks legit. I'll be watching to see what happens over the coming days but i think my commenting on somali politics days have come to an end
No actor in Somalia is without ulterior motives but now Turkey are in a position where they can derive direct financial benefit from Somalia’s instability. What type of government would agree to such a thing? It took me 2 minutes to poke holes in the proposed agreement and I knew nothing about oil and oil policy beforehand.
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This is not the time to be depressed. You must fight.
hsm has to be in panic to sign this cuz the goverment were making good deals before this or was this always the end goal for hsm or did arsenal scare him to sign this
English copy (per Nordic Monitor):
nordicmonitor.com
Turkish copy (per the Turkish Government):
Neither the English copy provided by Nordic Monitor or the Turkish copy provided by the Turkish government appear to explicitly state that 90% of profits will go to Turkey. This section, 4.7, seems to be more about recovering operating costs:
“The Contractor shall be entitled to recover Petroleum Costs incurred and paid by the Contractor pursuant to the provisions of the Production Sharing Agreement, by taking and separately disposing of an amount equal in value to a maximum of ninety percent (90%) of Crude Oil and ninety percent (90%) of Natural Gas produced from the Contract Area…” (Section 4.7, Page #: 6)
Additionally, there is this later on:
“The Contractor shall be entitled to Profit Oil and/or Profit Gas and/or Profit Petroleum that will be distributed according to the Production Sharing Agreement." (Section 4.7, Page #: 6)
As of the 8th of March, 2024, the “Production Sharing Agreement” is yet to be finalized according to Somalia’s Petroleum and Mineral Resources Minister Abdirizak:
diplomat.so
Though, in June 2024 Hiiraan reported an agreement of 70% vs 30% in favor of Somalia for Exclusive Economic Zone resources which would naturally include oil, gas, etc.:
www.hiiraan.com
As stated previously, it would be best to wait for legitimately reputable Somali and Turkish media outlets to report on this. Nonetheless, it would be helpful if we had a native Turkish speaker on this site.
Turkey secures rights to 90 percent of oil and gas output in Somalia deal, document shows - Nordic Monitor
Levent Kenez/Stockholm
nordicmonitor.com
Turkish copy (per the Turkish Government):
Neither the English copy provided by Nordic Monitor or the Turkish copy provided by the Turkish government appear to explicitly state that 90% of profits will go to Turkey. This section, 4.7, seems to be more about recovering operating costs:
“The Contractor shall be entitled to recover Petroleum Costs incurred and paid by the Contractor pursuant to the provisions of the Production Sharing Agreement, by taking and separately disposing of an amount equal in value to a maximum of ninety percent (90%) of Crude Oil and ninety percent (90%) of Natural Gas produced from the Contract Area…” (Section 4.7, Page #: 6)
Additionally, there is this later on:
“The Contractor shall be entitled to Profit Oil and/or Profit Gas and/or Profit Petroleum that will be distributed according to the Production Sharing Agreement." (Section 4.7, Page #: 6)
As of the 8th of March, 2024, the “Production Sharing Agreement” is yet to be finalized according to Somalia’s Petroleum and Mineral Resources Minister Abdirizak:
Somalia and Turkey Strengthen Cooperation with Oil and Gas Exploration Deal
Ankara (diplomat.so) - Officials from Somalia and Turkey have announced the signing of a significant agreement aimed at exploring oil and gas resources, further bolstering cooperation between the two nations.
Though, in June 2024 Hiiraan reported an agreement of 70% vs 30% in favor of Somalia for Exclusive Economic Zone resources which would naturally include oil, gas, etc.:
Turkey signed two major deals with Somalia. Will it be able to implement them?
On June 17, Somali President Hassan Sheikh Mohamud met with Turkish Foreign Minister Hakan Fidan in Ankara. It was the fourth high-level meeting between the two countries this year, and the pace of dialogue between Somalia and Turkey is set to increase, following two major agreements between...
As stated previously, it would be best to wait for legitimately reputable Somali and Turkish media outlets to report on this. Nonetheless, it would be helpful if we had a native Turkish speaker on this site.
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I found this this and it says 90%English copy (per Nordic Monitor):
Turkey secures rights to 90 percent of oil and gas output in Somalia deal, document shows - Nordic Monitor
Levent Kenez/Stockholm
Turkish copy (per the Turkish Government):
Neither the English copy provided by Nordic Monitor or the Turkish copy provided by the Turkish government appear to explicitly state that 90% of profits will go to Turkey. This section, 4.7, seems to be more about recovering operating costs:
“The Contractor shall be entitled to recover Petroleum Costs incurred and paid by the Contractor pursuant to the provisions of the Production Sharing Agreement, by taking and separately disposing of an amount equal in value to a maximum of ninety percent (90%) of Crude Oil and ninety percent (90%) of Natural Gas produced from the Contract Area…” (Section 4.7, Page #: 6)
Additionally, there is this later on:
“The Contractor shall be entitled to Profit Oil and/or Profit Gas and/or Profit Petroleum that will be distributed according to the Production Sharing Agreement." (Section 4.7, Page #: 6)
As of the 8th of March, 2024, the “Production Sharing Agreement” is yet to be finalized according to Somalia’s Petroleum and Mineral Resources Minister Abdirizak:
Somalia and Turkey Strengthen Cooperation with Oil and Gas Exploration Deal
Ankara (diplomat.so) - Officials from Somalia and Turkey have announced the signing of a significant agreement aimed at exploring oil and gas resources, further bolstering cooperation between the two nations.
Though, in June 2024 Hiiraan reported an agreement of 70% vs 30% in favor of Somalia for Exclusive Economic Zone resources which would naturally include oil, gas, etc.:
Turkey signed two major deals with Somalia. Will it be able to implement them?
On June 17, Somali President Hassan Sheikh Mohamud met with Turkish Foreign Minister Hakan Fidan in Ankara. It was the fourth high-level meeting between the two countries this year, and the pace of dialogue between Somalia and Turkey is set to increase, following two major agreements between...
As stated previously, it would be best to wait for legitimately reputable Somali and Turkish media outlets to report on this. Nonetheless, it would be helpful if we had a native Turkish speaker on this site.
Qandraasluhu wuxuu xaq u yeelanayaa inuu so ceshado kharashkii Batroolka ee uu galaya kunâ bixiyay si waafaqsan Heshiiska Waxsoosaar Wadaagga isagoo u qaadanaya.si gooni ah ug u badnaan sagaashan boqolii (90%) ee Saliida Ceyriihka ah iyo sağaashan boqolkii (90%) ee Gaaska Dabiiciga âh ee laga soo saaray Aâgga lagu heshiiyay sanad maaliyadeedkâaşi oo aysan ku jirin kuwa loo adeegsan Howlgallada Batroolka iyo xuquuqda lahaanshaha oo ay qaadanayso. Xukuumadda. Kharash-ceshadaasi wâxay khusaynaysaa "Kharashka Batroolka" öo ka koobnaanaya kharashka Saİiidda iyo Kharashka Gaaska.
Contractor pui'suant to the provisions of the Production Sharing Agreement, by taking and separately disposing of an amount equal in value to a maximum of ninety percent (90%) of Crude Oil and ninety percent (90%) of Natural Gas produced from the Contract Area during that fiscal year and not used in Petrolcüm Operations after the payment of ali royalties due to the govemment. Such cost recovery Petrolcüm is the "Cost Petroleum" consisting of two categories, the Cost Oil and the Cost Gas.
This one is about operating costs too. Seems pretty standard to have this type of agreement in place. Why would any contractor operate on major losses? Though, I’m not particularly speaking on the cap put on cost recovery.
Nonetheless, can you see what date this document was released?
This article has no evidence to back up their claims whatsoever. The writer keeps referring to said agreement, and links the hydrocarbon agreements as proof of his arguments, when in reality said agreement mentions nothing of his claims. I call bs !!
Wabari
Wabari Guleed Liban
BREAKING: Leaked Somalia-Turkey Oil Deal Reveals Shocking Terms
1. Somalis can now see the controversial oil agreement signed between Somalia and Turkey a deal made without parliamentary scrutiny or oversight.
2. The terms heavily favor Turkey, with Article 4 granting them 90% revenue share, leaving Somalia with just 5%.
3. Key concerns: No standard bonuses or royalties for Somalia, unlike typical oil contracts.
No right to sue Turkey internationally Somalia can only use Istanbul’s courts.
Turkey can sue Somalia at ICSID, but Somalia is barred from accessing fair international dispute mechanisms.
4. This lopsided deal undermines Somalia’s sovereignty and economic interests. Experts warn it sets a dangerous precedent for resource exploitation.
nordicmonitor.com
1. Somalis can now see the controversial oil agreement signed between Somalia and Turkey a deal made without parliamentary scrutiny or oversight.
2. The terms heavily favor Turkey, with Article 4 granting them 90% revenue share, leaving Somalia with just 5%.
3. Key concerns: No standard bonuses or royalties for Somalia, unlike typical oil contracts.
No right to sue Turkey internationally Somalia can only use Istanbul’s courts.
Turkey can sue Somalia at ICSID, but Somalia is barred from accessing fair international dispute mechanisms.
4. This lopsided deal undermines Somalia’s sovereignty and economic interests. Experts warn it sets a dangerous precedent for resource exploitation.
Turkey secures rights to 90 percent of oil and gas output in Somalia deal, document shows - Nordic Monitor
Levent Kenez/Stockholm
nordicmonitor.com
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