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.

 

[Hurder]

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

The FKD here is gonna get wild by April. If South finds oil wallahi its gonna be over for SL

 

[TheLand]

The FKD here is gonna get wild by April. If South finds oil wallahi its gonna be over for SL

There will be no oil found or not found in April. They will simply start digging through the data at that time. Also, it can either be oil, gas or maybe even something heavier but probably unlikely. Oil is much more valuable but if it’s too deep and hot it may get pressurized and essentially cooked into natural gas. Somalia desperately needs oil before the boom is over. 2027 is apparently going to be the peak.

 

[Midas]

@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.

While I get where your coming from the ExxonMobil and Guyana comparison doesn't really work. ExxonMobil only has so much money and they're involved in countless projects all over the world. If the oil is found turkey could probably get it out pretty fast since while they don't have ExxonMobil expertise they can put more resources into one project.

 

[Hurder]

There will be no oil found or not found in April. They will simply start digging through the data at that time. Also, it can either be oil, gas or maybe even something heavier but probably unlikely. Oil is much more valuable but if it’s too deep and hot it may get pressurized and essentially cooked into natural gas. Somalia desperately needs oil before the boom is over. 2027 is apparently going to be the peak.

As long as they tell us the numbers. Thats all we wanna know.

 

[TheLand]

While I get where your coming from the ExxonMobil and Guyana comparison doesn't really work. ExxonMobil only has so much money and they're involved in countless projects all over the world. If the oil is found turkey could probably get it out pretty fast since while they don't have ExxonMobil expertise they can put more resources into one project.

They don’t have the money sxb. Inflation in a Turkey is astronomical right now. Turkey only produces 70-80,000 barrels per day compared to 3.7 million per day for Exxon alone. People need to realize that for Turkey to help Somalia it would need to produce far, far more oil than it does now. It doesn’t have the same level of technology and investment. Just pray that oil prices go through the roof. Then the problem solves itself.

 

[TheLand]

As long as they tell us the numbers. Thats all we wanna know.

I don’t think they’ll be telling us much in April. The garbage they mentioned isn’t a good sign.

 

[Ashraf]

Trump is defo gonna f*ck around with Iran the way this niggas been moving at the beginning of his tenure is wild. Campaigned on 0 foreign wars but spouts colonial era rhetoric whenever he feels like it