7 of the best OIL&GAS blocks for Somalia's FIRST ever licensing round has started
- Thread starter Galool
- Start date
This is good news but remove Shabaab first and foremost before we seriously explore any of the resources, but it is good to create the framework for any resource extraction.
f*ck fish my nigga, with competent leadership, the oil will our ticket out of the dark ages.
It will take too long. Oil prices are already falling, imagine in 10 years. Our fishing industry is unutilised. We could make extra bucks and feed the population at the same time. We could make billions of dollars in few years time with some investment. In fact we could make billions in a years time. And from there it will double. We could employ tons of people in the fishing industry. Compare that to the few people we are gonna employ in oil drilling. And we need to look at other african countries that extracted oil and how it played with them. Take south sudan for example. These guys first fought with sudan over the oil. You could argue they were different ethnicities fine. After they formed south sudan. They were good for few years. But suddenly they started a fight between them, between different tribes. The oil made them greedy, and each one wanted to be the one on the seat. They fought for 5 years, and these are one group which is 16% of the population against the majority dinka. The oil wells were completely destroyed the country went to shit. Now imagine with somalis who have more or less the same number of tribes. People are already killing each other. Put oil there and bye bye.
Somalia is not ready for this. We need things that make people well off quickly. Then we might think about it. Dont get overexcited at the chance to see somalia suddenly prosper. Think it throughly.
MadMullah99
Boqor of Boqors. The man your wife fantasises of.
as usual, alot of confusion and uncertainty as to how this will benefit Somalia.
I just wish it is the right decision. We have suffered enough.
I just wish it is the right decision. We have suffered enough.
I believe its mainly for offshore gas not oil and there is still a strong market for it
The operations will be offshore so shabab dont stand a chance especially with all the world navys patrolling the indian ocean
Mate your talking out your ass. So these companies paid money to explore, claimed they found oil and are prepared to invest millions for a licence just so they can drill salty water........right?
It's like sometimes i feel like i'm surrounded by kids on this site.
Yes that is exactly what happened? you are the kid here I am grown ass man sxb, don't insult my intelligence kiddo, I am surprised you never heard of this, may be you should read this.
https://en.m.wikipedia.org/wiki/Oil_exploration_in_Puntland
It's actually both oil and gas.
What's up with Ethiopia drilling oil in Somalia state???
You're comparing the fishing industry to oil/gas industry? Ur either a 14 years old or u have very low iq.
"I feel like we should keep it as reserves and not drill it." So ur saying the oil prices are already falling and yet you want us to keep it as reserves until the oil becomes worthless... I think u have some hidden agendas.
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You honestly sound delusional.
You're in denial about it because for some reason it intimidates you that we have resources or you genuinely have concern about how the resources will be used. Honestly just quit acting ignorant. It's one thing to disagree with something, but don't act like i'm an idiot.
International companies would not waste their time investing if the government was just scamming them and there was no oil.
Why am i even entertaining some guy who's true intentions i don't know? forget it. Believe what you want bro.
You honestly sound delusional.
You're in denial about it because for some reason it intimidates you that we have resources or you genuinely have concern about how the resources will be used. Honestly just quit acting ignorant. It's one thing to disagree with something, but don't act like i'm an idiot.
International companies would not waste their time investing if the government was just scamming them and there was no oil.
Why am i even entertaining some guy who's true intentions i don't know? forget it. Believe what you want bro.
Sxb for sure dadka qaar waa shisheeye
There is no oil in Somalia sxb, do you think MSB would be begging for donations if there was this much of oil underneath our country? Somalia was explored multiple times and no oil was spotted, keep day dreaming and making claims when we have little to nothing.
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People are overly optimistic thankfully even if there is oil it will likely be valuable for atleast 50 more years.
Stop being so close minded. You clearly just don't know the potential of the fishing industry. You just dismiss it as fish. Read up on that. With proper investment we could mame billions of dollars quickly. Have you even read my previous points? When i say leave it as reserves i mean leave it there dont take it out. Even if it becomes worthless. Because we don't know what drilling will do to our sea and the fish environment.
Yes, I'm comparing both industries in how they can effectively boost the economy. I already said it will take too long for the oil to be extracted and while its being extracted it will ruin our fishing industry which we could make good money out of and employ people. We really don't know how this will play out in the future. Oil could become extremely less valuabe. Many countries might rely more on new technologies and renewable resources. Turkey could start producing oil, a lot of the states that broke from the USSR are already producing oil. We won't get good money from it. It won't make us as rich as it did to the gulf. African states producing oil like south sudan makes around 8 billion dollars in revenue. We could easily make much more than that in fishing. While employing a lot of people. Which is what we need right now. We can't wait 10 years to make money.
I also mentioned the political unstability in somalia. From what i'm seeing, qabilism is as strong as ever. People are willing to kill for qabil. We can't suddenly show them oil, all hell will break loose. We need people to first be employed and have steady lives. Read my previous comment.
How would you restart a non existing fishing industry without funds you do realize you need billions in start up money to start a whole industry where do you get the money for logistic, infrastructure, manpower,supplies,ect ect
You honestly sound delusional.
You're in denial about it because for some reason it intimidates you that we have resources or you genuinely have concern about how the resources will be used. Honestly just quit acting ignorant. It's one thing to disagree with something, but don't act like i'm an idiot.
International companies would not waste their time investing if the government was just scamming them and there was no oil.
Why am i even entertaining some guy who's true intentions i don't know? forget it. Believe what you want bro.
This guy likes trollin sxb, wouldn't take it seriously.
We invite foreign investment. Do you know that work is already being done in the fishing industry? We have few companies exporting already. We have factories that package fish and export it. With all the equipment. Chinese investors are already in the capital. They are willing to invest. We have customers ready. In a fishing meeting held in oman, the biggest sushi restaurant owner in japan said he is willing to be a huge customer of somalia if they are ready. For now almost everything is in place. Except few quality papers which the government is working on. For us to export to europe. We also export to china btw. If the fishing industry gets 500,000 dollars right now, we could increase the revenue by leaps and bounds. Millions fairly quickly and easily in few months. Once that happens profits could be reinvested and it would start snowballing from there. Investors are here already, everyone knows about the somali sea potential they are just afraid of the security for now. Once they see its working they will chip in. We have a lot of rich somali businessman they should invest too. We need to raise awareness. Inshallah if we develop this and the farming industry (which mashallah people are already working hard at) no somali will ever go hungry
Your being a bit too optimistic sxb the security situation on the ground right now is not conducive to foreigner investment which is the main prerequisite for investors what Somalia needs is a quick jolt of cash like a few billion or so to stabilize,even then it needs good governance so that money is not stolen by our greedy and corrupt politicians the problem is Somalia is a gold mine but it's too big of a gamble for investment if we could only put our petty differences aside and work collectively ad a people we could all be well off back home blame our low iq gypsy politicians who rather live lavish in other people's capitals instead of home
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