President of Somalia signs The Petroleum Law

[madaxweyne]

we have more oil than iraq.

if we count the onshore oul we are easily top three more then iraq and iran for sure this only includes the onshore oil

 

[Mr.Haggis]

if we count the onshore oul we are easily top three more then iraq and iran for sure this only includes the onshore oil

nugaal iyo Bari oil wells (Puntland) contain more than 20 billion barrels. Baardhere onshore over 30 billion barrels on. Libya alone has 30 billion barrels. Gadaffi changed the whole nation with that amount.

 

[Mr.Haggis]

Correction; Libya has 50 billion barrels of oil

 

[kickz]

You are 100% right.

From the little that I know it will be in stages. The 1st 15 are offshore and depending on success they will exploit one well at a time over the next few decades.

@kickz probably knows more

Yeah thats right, the current plan is offshore blocks between Hobyo and Kismayo will be exploited.

 

[FBIsomalia]

Yeah thats right, the current plan is offshore blocks between Hobyo and Kismayo will be exploited.

N&N clever for not adding PL iyo SL or the both governments react to hard. Let see how it will apply on the sea!!.

 

[Yahya]

N&N clever for not adding PL iyo SL or the both governments react to hard. Let see how it will apply on the sea!!.

Yes. There is no need to force or exploit out brothers. I'm sure they will come round when the time is right.

 

[Mr.Haggis]

The petroleum act also sets the groundwork for creating a regulatory regime, various environmental and transparency measures, encourages foreign investment and establishes the Somalia Petroleum Authority and Somali National Oil Company (Sonoc).