MOGADISHU, Somalia – Daahir Shire Mohamed, the Minister of Petroleum and Mineral Resources, has declared that Somalia’s energy industry is drawing substantial international investments outside its key alliance with Turkiye. He cited the seamless and trouble-free launch of exploration efforts as evidence of the nation’s stability.
During an extensive press conference, the minister fielded queries on the range of foreign participants in Somalia’s natural resources domain. He verified that, alongside the strong defense and economic pact with Turkiye, leading global entities from the United States have obtained Production Sharing Agreements (PSAs).
“There are indeed other companies. We have finalized deals for seven blocks with Coastline Exploration and three blocks with Liberty Petroleum, a U.S.-based firm. These deals are in effect and advancing as scheduled,” the minister added.
A prominent aspect of the minister’s remarks was the assurance that current offshore activities, including the notable seismic surveys under the Somalia-Turkiye partnership, have encountered no security issues.
“The Turkish agreement is progressing smoothly, and I can confirm that no security incidents have taken place during these operations,” the Minister stressed.
This assurance counters persistent global doubts and assures prospective investors that Somalia’s offshore areas are safe for intricate exploration, production, and commercialization endeavors.
In addition to oil, the minister detailed initiatives to modernize the mining industry and halt unauthorized extraction.
Crackdown on Illegal Mining: The Federal Government is initiating campaigns to halt unlicensed resource draining in areas like Galmudug and Bari, guaranteeing that all mining is permitted and contributes to the national coffers.
New National Laboratory: The ministry revealed intentions to create an advanced national laboratory. This center will enable Somali individuals and businesses to scientifically assess the nature and worth of local minerals, avoiding overseas sample shipments and minimizing fraud risks.
The minister wrapped up by stressing that Somalia is “open for business,” backed by a regulatory structure and secure setting ready to sustain major energy initiatives poised to reshape the country’s economy.
