Somalia is set to commence oil drilling in early 2025, marking a significant step in its efforts to exploit its hydrocarbon potential.
The country, which has vast untapped reserves of oil and natural gas, has been working towards establishing a framework for oil exploration and production in recent years.
The Somali government has been collaborating with international oil companies and experts to ensure the readiness of its oil sector for drilling activities.
Turkish experts are scheduled to embark on final surveys in the area beginning this September before the drilling kicks off early next year.
The start of drilling operations is expected to attract foreign investment and potentially transform the country’s economy, provided there is a stable political environment and robust regulatory framework.
However, the move also brings challenges, such as managing potential environmental risks, ensuring fair distribution of oil revenues, and addressing security concerns in regions where the drilling will take place.
The government aims to balance these considerations while capitalizing on its natural resources for economic growth and development.