Norweigan oil company Spectrum Geo writes new report about Somalia's offshore oil prospects

[Farm]

Remember Somali Galbeed deal was much worse only getting 5% of the oil revenue while Addis takes 95%.

SFG are too generous letting member states to keep 25%.

I would suggest 50/50 ama 60/40 atlest.

We are a federal country not a centralized state, if anything it should be 70/30 in favor of the states.

 

[Crow]

Remember this.


Look at the offshore figures.


The next president of Puntland better renegotiate this terrible agreement.

Looking at this again, it seems ripe for corruption. It says that 10% goes to non-oil producing states but which states would that be? Every federal member state has onshore and offshore oil. I think that 10% is actually for Farmajo's wife.

 

[Farm]

Somalia could be the first Norwegian colony.

They pay MP salaries, the Prime minister is a Norwegian national.... they also accepted the Somali passport (one of the worst in the world) recently.

 

[Crow]

This is from an article written two years ago.
https://www.voanews.com/a/reu-prospect-of-offshore-oil-a-mixed-blessing-for-somalia/3586073.html

The initial round will cover areas off central and southern Somalia and will exclude shallow water block concessions signed in 1988 with Shell and Exxon Mobil.

This explains why the blocks start some kilometres off shore. That gap in the map was promised to American oil companies by Siad Barre.

I think it's a huge mistake to recognise those deals. They were made by a revenue starved government embattled by insurgencies across the country.

On top of that, they actually bankrolled the American military operation that culminated in Black Hawk Down in hopes of installing a puppet government that would facilitate the smooth extraction of oil. They should be banned from Somalia after that stunt.

http://articles.latimes.com/1993-01-18/news/mn-1337_1_oil-reserves

According to documents obtained by The Times, nearly two-thirds of Somalia was allocated to the American oil giants Conoco, Amoco, Chevron and Phillips in the final years before Somalia's pro-U.S. President Mohamed Siad Barre was overthrown and the nation plunged into chaos in January, 1991. Industry sources said the companies holding the rights to the most promising concessions are hoping that the Bush Administration's decision to send U.S. troops to safeguard aid shipments to Somalia will also help protect their multimillion-dollar investments there.

Conoco, whose tireless exploration efforts in north-central Somalia reportedly had yielded the most encouraging prospects just before Siad Barre's fall, permitted its Mogadishu corporate compound to be transformed into a de facto American embassy a few days before the U.S. Marines landed in the capital, with Bush's special envoy using it as his temporary headquarters. In addition, the president of the company's subsidiary in Somalia won high official praise for serving as the government's volunteer "facilitator" during the months before and during the U.S. intervention.

Beginning in 1986, Conoco, along with Amoco, Chevron, Phillips and, briefly, Shell all sought and obtained exploration licenses for northern Somalia from Siad Barre's government. Somalia was soon carved up into concessional blocs, with Conoco, Amoco and Chevron winning the right to explore and exploit the most promising ones.

But the same source added that Conoco's decision to maintain its headquarters in the Somali capital even after it pulled out the last of its major equipment in the spring of 1992 was certainly not a humanitarian one. And he confirmed that the company, which has explored Somalia in three major phases beginning in 1952, had achieved "very good oil shows"--industry terminology for an exploration phase that often precedes a major discovery--just before the war broke out.

Of the four U.S. companies holding the Siad Barre-era oil concessions, Conoco is believed to be the only one that negotiated what spokesman Geybauer called "a standstill agreement" with an interim government set up by one of Mogadishu's two principal warlords, Ali Mahdi Mohamed. Industry sources said the other U.S. companies with contracts in Somalia cited " force majeure " (superior power), a legal term asserting that they were forced by the war to abandon their exploration efforts and would return as soon as peace is restored.

 

[SOMALI GENERAL]

The same company wants to do a seismic data on Puntlands coast which is supposed to have gas/oil near the gardafui channel we need Socotra and claim all of the waters.

Right now is the best opportunity to send a military force to annex the island, since Yemen is submerged in a civil war. Puntland(with backing from the rest of Somaliweyn) should take the lead & declare war against Yemen asap.

 

[National Warrior]

We right now is the best opportunity to send a military force to annex the island, since Yemen is submerged in a civil war. Puntland(with backing from the rest of Somaliweyn) should take the lead & declare war against Yemen asap.

Doesn't UAE have a base there? And I doubt Puntland have the naval forces needed to pull shit like that.

 

[GBTarmy]

Right now is the best opportunity to send a military force to annex the island, since Yemen is submerged in a civil war. Puntland(with backing from the rest of Somaliweyn) should take the lead & declare war against Yemen asap.

The Somali government already claims it and so should Puntland, we should send some people there and basically take it. Problem is UAE if they still have a base there.

 

[SOMALI GENERAL]

The Somali government already claims it and so should Puntland, we should send some people there and basically take it. Problem is UAE if they still have a base there.

Doesn't UAE have a base there? And I doubt Puntland have the naval forces needed to pull shit like that.

Wasn't aware of Emirati troops being stationed there. We'll need to upgrade our military tech before we launch a full-scale invasion & kick out the Emirati invaders to liberate the island.

 

[Crow]

@Farm Equipment obtained the Petroleum Bill pdf last month and @garad gacmadheere found something interesting.

The second paragraph (b) is troubling, all agreements signed by Siad's dawlad should be null and void.

Basically, the Siad era oil agreements have been recognised as valid by Farmajo's administration.

We did have the opportunity to ignore them because the entity those deals were signed with, the Somali Democratic Republic (1969-1991), no longer exists but the FGS foolishly decided not to.

Here is the full petroleum bill.

I uploaded the pdf he sent


https://mega.nz/#!2XpHAAzK!jqtxOptwxcTqRuSUWLaszzkOeLTqnFVDoWOu_4NLtTI

Earlier thread

https://www.somalispot.com/threads/...-bill-about-to-be-passed-by-parliament.50492/

 

[Yaquub]

So does anyone know how many on shore oil reserves we are predicted to have?

 

[National Warrior]

So does anyone know how many on shore oil reserves we are predicted to have?

I'm not even entirely sure there's any oil at all. Yemen, our next door neighbour, has none. Also, if we did have oil, it would've been extracted by the West years ago. Plus, no big news companies are reporting this.

In a year's time no-one here will remember this discussion. A year after that, "Look we have oil, Puntland/Somaliland/Jubbaland's eating good from now on!"

 

[Farm]

I'm not even entirely sure there's any oil at all. Yemen, our next door neighbour, has none. Also, if we did have oil, it would've been extracted by the West years ago. Plus, no big news companies are reporting this.

In a year's time no-one here will remember this discussion. A year after that, "Look we have oil, Puntland/Somaliland/Jubbaland's eating good from now on!"

Bro try reading the article they can see the oil seeping from space.

 

[EDsomali]

Oil could provide funds needed to boost of economic growth for our country.

Though I can envision the problems it will also cause.

 

[Yaquub]

Oil could provide funds needed to boost of economic growth for our country.

Though I can envision the problems it will also cause.

It will be good if they at least set aside funds for infrastructure.

 

[Pla]

Right now is the best opportunity to send a military force to annex the island, since Yemen is submerged in a civil war. Puntland(with backing from the rest of Somaliweyn) should take the lead & declare war against Yemen asap.

declaring war on innocent foreigners while you have poor IDP somalis amongst you. Declaring war with no moral or critical logic. Just for the sake of havng more land.

True logic right here folks

 

[Farm]

declaring war on innocent foreigners while you have poor IDP somalis amongst you. Declaring war with no moral or critical logic. Just for the sake of havng more land.

True ******* logic right here folks

Why would we even declare war? We have a large amount of natives of Socotra Mehris (around half compared to Yemen) living in PL, we could do a referendum one day for them to join us


https://en.m.wikipedia.org/wiki/Mehri_people