Somaliland has a potential to become an Oil and Gas exporter. Looking at this map and the close proximity to the Arabia peninsula there is a chance Somaliland has tonnes of Oil and Gas under it's land.
Not only Oil and Gas, but other vital minerals such as Gold,Uranium,Coal and others.
The government should capitalize on this when they are able to control it's region. They should try to attract attract foreign investment in this industry. There needs to be more exploration in Awdal,Togdheer and Woqooyi. The government of Somaliland is able to booster peace while helps create a fine environment for exploration.
My question Why isn't there any Oil exploration in Somaliland?
There were a few attempts to explore oil but Somaliland government wants a good share of the profit for our People no fake contracts with doggy oil companies
A historic meeting for Somaliland Oil Industry in London
Written by Qaram News
Nov 21, 2008 at 12:46 PM
The Licensing Round Roadshow of Oilexploration in Somaliland have started in London
London,(Qaran News)-The Somaliland Minister of Water and Mineral Resources Mr Qassim SH. Yusuf Ibrahim opened november 18, the Licensing Round Roadshow at Royal Air Force Club, London (RAF Club).
The presentation of the upcoming bid round was presented by the ministry of Water& Mineral resources Somaliland together with TGS-Nopec.
The presentation gathered more than 20 companies from different parts of the world like, USA, United Kingdom, Sweden, Norway, Holland, Saudi Arabia and other countries.
The Minister opened the meeting and in his speech, he said "This a historical moment for Somaliland and it is the first time the natural resources of Somaliland been presented in the international exclusive club." The oil exploration industry will be an injection for the emerging economy with creation of jobs and income to Somaliland. The Minister stressed the commitment of the Somaliland Government to do everything possible inorder to promote and attract investors in the Oil industry for the benefit for Somaliland people. The place we are standing today is the hard work and dedication of Ministry of Water& Mineral Resources together with TGS-Nopec who collected the seismic survey on offshore and the Aeromagnatic survey (onshore). This is a great achievement and a great day for Somaliland.
The presentation in London is the first one and the other presentation will be in Houston, Texas, USA november 20. The biggest oil companies in USA are expected to come to the meeting.
The Presentation of Somaliland Petroleum Geology was made by Marie Grand, TGS-Nopec.
Finally the Director General of Ministry of Water& Mineral Resources Mr Ahmed Ibrahim Suldan presented the coming bidding process and the conditions. The bidding process is expected to start in January 2009. At meeting was also present Mr Eidarus Sh Adan, Somaliland Representative in Sweden, who was leading a group of Swedish Companies and Investors to the meeting.
The companies and the investors were delighted about what they seen and heard concerning the prospects of oil exploration in Somaliland. One of the geologist (Italian) who was present at meeting said "there is a plenty of opportunities to explore oil in Somaliland and it is promising. One of the Investors from Sweden Mr Bo Lindstrom who participated the meeting in London made this comment. " I am very glad to participate the first bid round held in London and listen to the interesting survey on oil exploration in Somaliland. The presentation was well planned and it is a good start for Somaliland to be able to explore the resources for the wellbeing of the people. I look forward to be part of this process in the near future"
The companies and the investors were euphoric about what they have seen and this is a good start for the future of Somaliland oil exploration. The meeting ended with a distinguished lunch at the Royal Air Force Club London.
Somaliland is situated in the eastern horn of Africa and is about the size of England & Wales with an area of 137,600 square kilometers. Somaliland has declared its independence from the South Somalia 1991 and hosted several democratic elections.
TGS-Nopec is leading provider of multi-client seismic data and related geoscience products to the oil & gas industry. Main offices: Houston Texas USA, Stavanger and Asker Norway, London, Perth, Moscow. Traded on Oslo Stock Exchange, Market Cap:~$1.2 billion
I mean, Puntland is able attract foreign countries while having the reputation of piracy and still plagued with clan warfare at times. Somaliland does have clan warfare at times, but not to the extend of Puntland yet they don't have major companies looking for resources
The_Emperior5 wrote:There were a few attempts to explore oil but Somaliland government wants a good share of the profit for our People no fake contracts with doggy oil companies
That's great news,
Somaliland is a Muslim country so they could attract Arab Oil companies or Petronas from Malaysia. I hope the government is serious about this.
Also exploration won't hurt, even if they find minerals. I bet there are numerous Somaliland lawyers who would be able to get a decent contract out of these Oil companies
I don't want my country to turn into a country that depends on exporting minerals/oil/gas i.e. another african/middle-eastern country. We want to develop a huge industrial and manufacturing sector (e.g. Steel) but first we need IMF money. And then use that money to build huge extensive road/highway systems as well as a nationwide railway grid, manufacturing plants and industrial sites. Somaliland has huge gemstone resources which can be mined, refined and sold by us instead of just shipping the raw material to india or china etc.
Gurey, can Hydro-electric power be used in Somaliland even without rivers?
abdi.ismail wrote:I don't want my country to turn into a country that depends on exporting minerals/oil/gas i.e. another african/middle-eastern country. We want to develop a huge industrial and manufacturing sector (e.g. Steel) but first we need IMF money. And then use that money to build huge extensive road/highway systems as well as a nationwide railway grid, manufacturing plants and industrial sites. Somaliland has huge gemstone resources which can be mined, refined and sold by us instead of just shipping the raw material to india or china etc.
Gurey, can Hydro-electric power be used in Somaliland even without rivers?
1st of all IMF practically operates like an bank and only lends money to nations with good credit history and pay back on time
secondly all these developments you seem to be braging about needs highly skilled ppl and a very large labour popultation who are familiar with industrialised world
hydroelectricity needs a river, not a lake or a valley but a river in a region with abundance of water, sland is lucky if they meet the ppl's requirment, specially with all the droughts HOA recently had.
and worst of all the leaders pocket most of the money intended for development its actually the diapora that are contributing everythnk to the economy.
