Somalia’s oil exploration to conclude by April 2025, signalling potential economic boom

[Colonelcfs]

12 days left let’s see if this is actually real

 

[Internet Nomad]

Right now i am in a Quantum state of being a unionist or separatist neither one or the other fully until the results come out.

 

[Hotchick12]

Right now i am in a Quantum state of being a unionist or separatist neither one or the other fully until the results come out.

lol imagine if somaliland has no valuable oil reserves but southern somalia does, imagine them recognising somaliland so they don’t have to share any oil profits

 

[TheLand]

@Hilmaam, two other major factors that are tied in together that nobody is talking about.
1) Turkey doesn’t have Exxons billions that helped Guyana’s oil exploration and development. They are small time players not big boys.
2) We actually need oil prices to increase by like 20% atleast for a year to make it a better speculative investment. Then you would see more money put into exploration and potentially oil field development if there is a decent find. Otherwise the costs outweighs the payoff for any investors. Oil has crashed and recovered a little since 2014 which is why we haven’t seen any real interest in Somalia for the last decade or more.

 

[Hotchick12]

@Hilmaam, two other major factors that are tied in together that nobody is talking about.
1) Turkey doesn’t have Exxons billions that helped Guyana’s oil exploration and development. They are small time players not big boys.
2) We actually need oil prices to increase by like 20% atleast for a year to make it a better speculative investment. Then you would see more money put into exploration and potentially oil field development if there is a decent find. Otherwise the costs outweighs the payoff for any investors. Oil has crashed and recovered a little since 2014 which is why we haven’t seen any real interest in Somalia for the last decade or more.

do you think the collapse of iran will help somalia’s chances

 

[TheLand]

do you think the collapse of iran will help somalia’s chances

Like a supply shock? Probably yes. Could push prices up 20% or more.

 

[Hotchick12]

Like a supply shock? Probably yes. Could push prices up 20% or more.

donald trump you need to invade iran!!!

 

[Hilmaam]

@Hilmaam, two other major factors that are tied in together that nobody is talking about.
1) Turkey doesn’t have Exxons billions that helped Guyana’s oil exploration and development. They are small time players not big boys.
2) We actually need oil prices to increase by like 20% atleast for a year to make it a better speculative investment. Then you would see more money put into exploration and potentially oil field development if there is a decent find. Otherwise the costs outweighs the payoff for any investors. Oil has crashed and recovered a little since 2014 which is why we haven’t seen any real interest in Somalia for the last decade or more.

,It’s very tough environment. Especially off shore oil. It’s good study happening hopefully more studies done on land as well. Full account of our natural resources whether oil or metals. There are many challenges like u listed that Somalia has to overcome which takes time

 

[TheLand]

,It’s very tough environment. Especially off shore oil. It’s good study happening hopefully more studies done on land as well. Full account of our natural resources whether oil or metals. There are many challenges like u listed that Somalia has to overcome which takes time

Also the fact that the offshore is more likely to be gas and not oil, since further down south in other East African countries coasts that is what you see. Gas is a lot cheaper than oil.