MOGADISHU, Somalia – Somalia is emerging as a hotspot for international energy investment, with its petroleum and mineral sector attracting interest from around the world beyond its longstanding partnership with Turkey. This comes as exploration activities get off to a seamless start, signaling stability and opportunity.
Speaking at a detailed press conference, Somalia’s Minister of Petroleum and Mineral Resources, H.E. Daahir Shire Mohamed, highlighted the country’s expanding roster of global partners. While Turkey remains a cornerstone ally in defense and economic collaboration, other major players, particularly from the United States, have secured Production Sharing Agreements (PSAs) with Somalia.
“Several international firms are actively involved. We have finalized deals for seven blocks with Coastline Exploration and three blocks with Liberty Petroleum, a U.S.-based company. All agreements are operational and progressing as planned,” the minister explained.
Reassuring investors, the minister confirmed that ongoing offshore operations, including seismic surveys under the Somali-Turkish partnership, have proceeded without any security incidents.
“The Turkish agreement is advancing smoothly. No security issues have occurred, reinforcing the safety and reliability of Somalia’s waters for exploration, production, and commercialization,” he emphasized.
Beyond oil, Somalia is modernizing its mining sector while cracking down on illegal resource extraction. The government is actively halting unauthorized resource extraction in regions such as Galmudug and Bari, ensuring all mining activities are legal and contribute to national revenue. Plans are also underway to establish an advanced national laboratory, allowing Somali businesses and experts to evaluate minerals domestically, eliminating the need for overseas sample testing and reducing risks of fraud.
Concluding his remarks, the minister affirmed that Somalia is “open for business,” backed by a strong regulatory framework and a secure environment ready to support major energy projects set to transform the nation’s economy.
