This document doesn't bind Puntland as the document says the FGS will consult the FMS on which oil company they will work on and we on know this current administration doesn't consult anyone on any deal.
The Oil Sharing Agreement
- Thread starter Dalac Bilaash
- Start date
Is Gaas name not on the doc?
Chaseyourdreamzz
VIP
Yeah he signed it along with other FMS leaders at the time
So what are reer PL complaining about? This is like their dream deal lmao FMS will get a lot
Chaseyourdreamzz
VIP
I’m not sure seems like a good deal for federal states
you can clearly see in the tweet gaas signature on the document @FBIsomalia
That was agreement with xarmaajo goverment, but they change it.
They change agreement points, that is why Gaas goverment cut ties with xarmajo goverment
How so? Onshore oil FMS effectively receive 70% and offshore they receive 45%. There’s no other country with an RSA that liberalized.
What parts did they change?
Oil income share between FGS and FMS. How FGS income more if state will responsible for security, health, education etc.
Going by this agreement FGS is only more in the case of offshore oil which makes sense as that is not “in” a state but in Somali waters. Military is the purview of the FGS which would also be a major cost sink. Also there is currently no tax sharing agreement between the FGS and FMS so I understand why the FGS would want to take their cut up front rather than have to beg states to come to an agreement. All things considered FMS really do get a lot in this agreement when you look at what other countries have and that’s a good thing in my opinion.
My main issue with the FGS and Somalia on the whole is how incompetent all levels of government are. They sign agreements with foreign companies and governments without anyone being made aware of the actual details. The parliamentarians do not care because they are all there for a check and have been paid off by foreigners to allow them to rape and pillage the country. I don’t know how people don’t get more angry about this regardless of their qabiil.Keep in mind this is Somalia's share after Somaoil rapes us in a 90/10 split.
Also keep in mind that this revenue will be managed by the folks who currently steal food aid from literally starving children and sell it on the open market.
Niggas said mega projects
No way somaoil is still around?? I haven’t heard about them for yearsKeep in mind this is Somalia's share after Somaoil rapes us in a 90/10 split.
Also keep in mind that this revenue will be managed by the folks who currently steal food aid from literally starving children and sell it on the open market.
Niggas said mega projects
They rebranded as Coastline Exploration and signed pretty much the same deal with HSM
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