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We don't lack the techno or knowhow, how many MJ oil companies(they mostly deliver) are there in East Africa. Anyways the technicalities of the job is always contracted out, thats why servicing companies exist in the oil industry, they deal with everything but they don't own the oil fields.

Also how many rich people do we have that could invest?

Corruption would be our only problem, distributing that wealth into the right sectors would be somewhat.

Anyways, what are the chances we can do this, if we aren't able to cement simple airports?

There are many rich people, probably more than enough to make the investment success.

But then it's not all about money. You need to know right people, you need to have right equipment, etc. Nowadays, almost all the projects in Somalia, PL, SL etc are contracted out to companies aboard. Some bigger projects have equity ownership. IIRC arabs gets 45% of whatever is coming in that xamar port for 20 years.

Then you need to convince those rich people to invest in you. They got money but it doesn't mean they're happy to throw it away.

Oil project isn't something that can be contracted out. All those oil companies is going to want something in return. They're not going to accept money, they want a deal.

First of all, Somalia doesn't have the expertise, the equipment, or the know how to drill the oil themselves.

Mida labaad, this isnt a good time to look for OIL, since the market is saturated with OIL and a barrel of OIL is $45. Its not economically visible.

There is no return of investment. Wait until OIL goes up to at least $80 a barrel.

And dont forget Iran, they can now sell their oil in the global market, which would further drive down the oil prices.

You could probably drill a few wildcat wells for 2-3 million Dollars.
However, range already drilled a few wells and came up dry.

original dervish wrote:You could probably drill a few wildcat wells for 2-3 million Dollars.
However, range already drilled a few wells and came up dry.

Oil will be found somewhere in Bari or Sool, the geology is the same as that of South Yemen, in fact Shabwah basin is just a continuation of Dharoor.Drilling 2 or 3 wells is actually not enough, you need much more than that. When Saudi Arabia started to look for oil in Eastern province in 1935, it took them 3 years of constant drilling to find anything. What Somalia needs is a prospecting agreement with a supermajor that has billions of dollars to throw away on prospecting. These small companies do not have the necessary capital to do much of anything.

Sxb.....The oil exploration business has moved on during the last 80 years.
Furthermore, the sedimentary basins of southern Yemen may not be identical to those in the Dharoor valley.

There is definitely some sort of oil there. but companies have their own investment policies. if the quantity, quality and demand is is below their expectations they won't di drilling.

Ignorance is a bliss

Ilaahow ha cadaabin nin aanan wax ogeyn

Even Xirsi gaab knows it and the well connected
Somehow It was leaked.

They said it Water they found instead of oil
lol qofkii og ayaa og.