Massive oil & gas discovery offshore Somalia

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waraabe

Your superior
Somalia has no oil, it would've been extracted in the 60s, 70s, 80s. I believe a lot of Somalis were hoping for oil to lift them out of poverty but it just isn't gonna happen.
 

Admin

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EVEN if it is there it should never be exploited because the Somali president and so-called government are corrupt to the core. They can not manage our natural resources. We must never encourage exploration!
 

Admin

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So corrupt other sub-saharan countries managed to get double better deal. :O27GWRK:

‘Significant’ Deferment

Johnny West, founder of Berlin-based OpenOil, the world’s largest public online database of oil contracts, compared the terms of the Soma PSA to nine “early-stage” offshore African contracts, including postwar Liberia, that have potentially high costs, high exploration risk and various degrees of political risk.

“None of them defer significant revenue streams to the government for as long as Soma,” he said. “The next lowest cap on upside to the government of a mega-find is effectively 60 percent of profit, half as much again as in the Soma deal,” he said in a phone interview.
 

Hawdian

Hawdian
Somalia has no oil, it would've been extracted in the 60s, 70s, 80s. I believe a lot of Somalis were hoping for oil to lift them out of poverty but it just isn't gonna happen.

This needs to be banned. :dead::dead1::deadosama:

Oil has literally been found in Somaliland. :drakewtf:

Literally in Odweyne district. :lawd:

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Oil seeps have been found in Odweyne area. :hahaidiot:

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Not to mention in sanaag and sool also contains alot of oil. :hemad:


If we add somaliweyn such as puntland, ogaden and keyna sea border dispute. Our oil could possibly be more than Saudi Arabia. :leon:

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Sxb please stop trolling, we all know somaliweyn is filthy oil rich. :drakekidding:

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Bahal

ʜᴀᴄᴋᴇᴅ ᴍᴇᴍʙᴇʀ
VIP
I really do not understand how on earth they do not understand how badly they are selling their pride away.

They don't care, it's obviously just a giant cash grab for these people. If they can walk away with a couple million and retire in Dubai or Nairobi, they'll sign anything.
 

Apollo

VIP
Can you guys tell me if there was oil why it wasn't extracted in the 50s, 60s, 70s, 80s

50s and 60s doesn't count as the tech was very bad. They were only going after the cheap stuff that was easy to extract (Saudis).

70s and 80s because Barre was a maniac.
 
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