The Federal Government of Somalia (FGS) has announced plans to put the country’s oil blocks up for sale from August 2020.
A statement released by the Ministry of Petroleum on Tuesday said the first bid of sales would involve seven oil blocks.
Further, the statement indicated that the auction would be conducted online because of the existing COVID-19 restrictions.
All the blocks are located in the country’s central and southern regions.
According to the statement by the petroleum ministry, the seven blocks have the best prospects for hydrocarbon explorations in the country.
Mohamud Abdikadir Hila’a, the Deputy Minister for Petroleum identified the seven blocks as 152, 153, 164, 165, 177, 178, and 204.
Four are in HirShabelle, two in the Southwest state, and one in Jubaland.