Historical disaster: Hassan Sheikh Mohamud gives Turkey 95% of oil royalties and 90% production

[Itsnotthateasy]

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There must be side agreements where HSM is pocketing some of that cost recovery cap / royalty. This is deal is too bad to be the only thing going on. Abritration is in Turkey? This is a nightmare deal. Totally unusual.

There you have it, Somalia is sub-african in standards. To be called African would be a compliment. South Somalia must become a AU trusteeship.

 

[Diirad]

https://x.com/Mahamed81443729/status/1914959408154501340?t=ktMdVXeK-VOzosvSBqyFTg&s=19

 

[Garaad Awal]

I’m enjoying this

 

[AlteKartel]

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The issue isn’t even the 90% cost recovery, that’s stomachable considering how unstable Somalia is, but:

1. A mere 5% royalty payment opposed to the 10-15% we are seeing other Africans countries get

2. No bonus up front

3. They can and will charge us for anything and everything to deem it as “supplemental protection.” Turkish mercenaries? Supplemental protection. 50,000 naval ships? Supplemental protection. If we ever get past the cost recovery phase to fully enjoy the 70/30 PSA it will have been after Turkey took their 100 lbs of flesh.

 

[Garaad Awal]

SL got the walanweyn’s selling even their booty holes to spite us

 

[Zak12]

Here is an article that helps break things down

Behind the 90% Claim: What the Somalia–Turkey Oil Deal Actually Means

By Abdirazak Ali Gesey A historic agreement signed between Somalia and Turkey for the exploration and extraction of oil and

www.radiodalsan.com

 

[TheLand]

The issue isn’t even the 90% cost recovery, that’s stomachable considering how unstable Somalia is, but:

1. A mere 5% royalty payment opposed to the 10-15% we are seeing other Africans countries get

2. No bonus up front

3. They can and will charge us for anything and everything to deem it as “supplemental protection.” Turkish mercenaries? Supplemental protection. 50,000 naval ships? Supplemental protection. If we ever get past the cost recovery phase to fully enjoy the 70/30 PSA it will have been after Turkey took their 100 lbs of flesh.

That isn’t even the worst part. It seems like the deal auto-renews and even if Somalia tries to get out of it, the projects continue indefinitely. They will also decide how much their costs are which they can turn into anything, obviously.

 

[AbdiBashirJR]

1 step forward 2 steps back

 

[Midas]

Here is an article that helps break things down

Behind the 90% Claim: What the Somalia–Turkey Oil Deal Actually Means

By Abdirazak Ali Gesey A historic agreement signed between Somalia and Turkey for the exploration and extraction of oil and

www.radiodalsan.com

The dude who wrote that article either doesn't know what he's talking about or is being dishonest. He doesn't bring up how all of these other african countries who signed oil deals all got bonuses and a royalty 2-3 times that of somalia. There's also the fact that they could easily inflate the so called "costs" like how they did accounting shenanigans with the port. So that it would be closer to a decade before we see anything beyond the 5%

 

[GaradMusa]

Here is an article that helps break things down

Behind the 90% Claim: What the Somalia–Turkey Oil Deal Actually Means

By Abdirazak Ali Gesey A historic agreement signed between Somalia and Turkey for the exploration and extraction of oil and

www.radiodalsan.com

Thank you for sharing, very few read past the original headline. Others choose to share unnecessary memes, fear monger, use Qabil driven rhetoric, share propaganda, etc.. All of this is a sharp contrast to the Culture and History section of SomaliSpot. The politics section is truly a free-for-all for what is shared and posted as comments. Only a minority of individuals in this section have any understandings of geo-politics.

Anyways, this “Fact Check” by Radio Dalsan echos what @Midas and I have stated previously: this agreement section (4.7) is not about profit sharing, but operational costs.

 

[Abdisamad]

The Somali parliament already signed this shit without even looking at it.

Monkey parliament

 

[Abdisamad]

This

I’m enjoying this

will affect your non existing state as well doqon a tahay

 

[Hassan Garguute Buldanana]

I remember people getting pissed when PL refused to be part of this deal. We know we are dealing with corrupt 68er's.

 

[Zak12]

The dude who wrote that article either doesn't know what he's talking about or is being dishonest. He doesn't bring up how all of these other african countries who signed oil deals all got bonuses and a royalty 2-3 times that of somalia. There's also the fact that they could easily inflate the so called "costs" like how they did accounting shenanigans with the port. So that it would be closer to a decade before we see anything beyond the 5%

I'm no expert so I'm assuming the reason why Somalia doesn't get as much royalties is because its a very risky place to invest in. Also, if the deal is truly bad, Somalia still has the choice to renegotiate or terminate the deal after 5 years.

 

[Abdisamad]

Thank you for sharing, very few read past the original headline. Others choose to share unnecessary memes, fear monger, use Qabil driven rhetoric, share propaganda, etc.. All of this is a sharp contrast to the Culture and History section of SomaliSpot. The politics section is truly a free-for-all for what is shared and posted as comments. Only a minority of individuals in this section have any understandings of geo-politics.

Anyways, this “Fact Check” by Radio Dalsan echos what @Midas and I have stated previously: this agreement section (4.7) is not about profit sharing, but operational costs.

Defend your dameer harder tuug adeer at all costs

 

[The truth seeker]

Clown leaders don’t surprise me

 

[Abdisamad]

I'm no expert so I'm assuming the reason why Somalia doesn't get as much royalties is because its a very risky place to invest in. Also, if the deal is truly bad, Somalia still has the choice to renegotiate or terminate the deal after 5 years.

To drill oil offshore is not that big of a risk you dimwit, if it was on land nothing justifies such a horrible deal unless you're a hungry moryan who only thinks in short term

 

[Zak12]

To drill oil offshore is not that big of a risk you dimwit, if it was on land nothing justifies such a horrible deal unless you're a hungry moryan who only thinks in short term

Its inland as well. This deal covers 6 oil blocks of which 3 are on land.

Turkey to start exploring Somalia deepwater blocks within weeks

Turkish Petroleum will send seismic vessel to survey three blocks in October — Somaliland protests

www.upstreamonline.com

 

[TheLand]

Thank you for sharing, very few read past the original headline. Others choose to share unnecessary memes, fear monger, use Qabil driven rhetoric, share propaganda, etc.. All of this is a sharp contrast to the Culture and History section of SomaliSpot. The politics section is truly a free-for-all for what is shared and posted as comments. Only a minority of individuals in this section have any understandings of geo-politics.

Anyways, this “Fact Check” by Radio Dalsan echos what @Midas and I have stated previously: this agreement section (4.7) is not about profit sharing, but operational costs.

I don’t think you get this at all. Turkey gets 90% under the guise of ‘costs’…the profit you are referring to will be the remaining 10% and Turkey still gets some of that as well so they will likely end up taking over 90%

 

[Abdisamad]

Its inland as well. This deal covers 6 oil blocks of which 3 are on land.

Turkey to start exploring Somalia deepwater blocks within weeks

Turkish Petroleum will send seismic vessel to survey three blocks in October — Somaliland protests

www.upstreamonline.com

One things for sure, we'll put a bullet into any Turk that tries to extract oil or any other minerals in Puntland.. They should stay in hawiye lands.. We don't care what poor deals these niggaz make with their Turkish brothers.