Oil in Somalia

[Geeljire lotus]

Is this true ?

 

[Aseer]

Is this true ?

Might be true I reckon lol.

 

[NidarNidar]

Might be true I reckon lol.

Once cost recovery is reached, the share amount should go back to normal, I'm not familiar with oil exploration costs.

 

[Pastoralist]

Once cost recovery is reached, the share amount should go back to normal, I'm not familiar with oil exploration costs.

from what can be seen it looks like the cost recovery also includes things for Somalia such as “community development, security, and training” which explains why it’s so high.

 

[Aseer]

Once cost recovery is reached, the share amount should go back to normal, I'm not familiar with oil exploration costs.

Doesnt matter what happens, we all know where that money is going.

 

[NordicSomali]

They should make a sovereign wealth fund like the Norwegian model.

 

[Affliction]

They should make a sovereign wealth fund like the Norwegian model.

Too much corruption

 

[NordicSomali]

Too much corruption

No that’s an insurance against corruption. You can’t guarantee state expenditures from corruption but you can verify flows to the fund from the state and flows back from the fund to the state.

 

[Aseer]

No that’s an insurance against corruption. You can’t guarantee state expenditures from corruption but you can verify flows to the fund from the state and flows back from the fund to the state.

Explain more in depth

 

[NordicSomali]

Explain more in depth

Large revenues for oil will just increase corruption which we agree on. So instead put the money on a sovereign wealth fund so that you at least avoid the Dutch disease and make sure future generations benefit. Also it’s going to be another form of monitoring the flows of money from the oil sector.

 

[TekNiKo]

Koonfur will be so rich, I feel sorry for those breakaway northern regions, they will starve

 

[TheLand]

Koonfur will be so rich, I feel sorry for those breakaway northern regions, they will starve

We all know Gedo will always be dirt poor no matter how much you beg. Some things never change.

 

[Keo]

Somalia is ran by NGOs with HSM as the puppet. There will be no oil productions.

 

[TheLand]

Somalia is ran by NGOs with HSM as the puppet. There will be no oil productions.

Some of these fools from GM are already calling themselves 'Cida Shidaalka'

 

[Abdisamad]

Some of these fools from GM are already calling themselves 'Cida Shidaalka'

Somalis are ignorant, these fools think a survey equals to oil drilling and oil production

 

[Hilmaam]

every single number he listed he pulled from his ass . 2 years oil production is . The survey gonna take 1 year by itself. If we get lucky and find oil it will take billions and a lot of infrastructure to get it out . which can be years upon years to get all the details figured out contracts signed and materials purchased. we probably 5-10 years away at minimum from off shore oil if I was to take a guess.

 

[The Oponian Guild]

They should make a sovereign wealth fund like the Norwegian model.

No one’s gonna see that money lol

 

[Webb]

every single number he listed he pulled from his ass . 2 years oil production is . The survey gonna take 1 year by itself. If we get lucky and find oil it will take billions and a lot of infrastructure to get it out . which can be years upon years to get all the details figured out contracts signed and materials purchased. we probably 5-10 years away at minimum from off shore oil if I was to take a guess.

It took Guyana 2008-2015, from when 3D seismic surveying was completed

 

[Moon-]

It took Guyana 2008-2015, from when 3D seismic surveying was completed

but that was a while ago we have better technology it might be faster?

 

[TheLand]

It took Guyana 2008-2015, from when 3D seismic surveying was completed

but that was a while ago we have better technology it might be faster?

Guyana is much more stable than the zoo