Somaliland enjoys a certain amount of strategic advantage. It has a long coastline and deep sea ports, and could eventually serve as a major energy hub for East Africa. Foreign oil companies are already on to this and exploration is beginning in earnest.
Chevron was drilling in Somaliland in the late 1980s, and Conoco was laying airstrips, but these licenses were granted by the Somali government, which was taken over by militias in 1991 – a development that saw Somaliland declare independence that same year. So now we’re starting from scratch.

There is the little matter that Somaliland is not an internationally recognized country, but foreign investors do not seem to be bothered by this technical inconvenience.
So far, three independent oil companies have signed up for exploration. The most notable is Turkey’s Genel Energy, which has taken the sector by storm in Northern Iraq.

Genel will begin surveying in March and expects to drill its first well in early 2014. Somaliland officials are hoping Genel will have the same success it has had in Iraqi Kurdistan. UK-listed Ophir Energy and Australia-listed Jacka Resources are also in the first exploration.

Together, the three companies have seven blocks. Genel owns 75% of two blocks, Ophir also owns 75% of two blocks. There are a total of 24 blocks up for grabs and they cover one-third of the country’s territory.

Source: Oil Price.com

1 COMMENT

  1. Current admin admin of the Rebuplic of Somaliland proved outfalged incompatency at all levels. Siilaanyo allowed the bunkrupt leader of the socalled khaatumo-seeg Mr Ali galaydh to establish a clan-based rerror group in Taleeh of Somaliland. That was a national treson on the visionless Siil;aanyo, who said, at that time, that Ali Galaydh and his associates have the interes of Somaliland at heart. saying this is in it self treason that Siilaanyo must be held accountable sooner or later, because Siilaanyo followed that by pulling the national army from many strategic bases that are all under the occupation of the socalledf khaatumo-xumo armed group who are now terrorising the pupulation there.

    • Peace is an expensive venture. Silanyo was correct in minimizing the conflicts in the east by pulling back forces.

      There is difference of politic objectives in the east not an invasion. I do not believe that is ever going to be solved with bullets.

      However i have no reservation in viewing any and all acts by the Majareer pirate states as an act of a foreign entity violating the Territorial integrity of Somaliland.

      1. Internal political disputes must always be resolved via dialogue, those who cause destruction and murder must be processed through the justice system.
      2. External threats be they political, military, economical must be repulsed with excessive military force.

      In summary Silanyo is right to distinguish between INTERNAL & EXTERNAL concerns in the eastern borders.