Somali Region to get 50% of Oil Revenues

[diaby]

It can't be 50/50 as the Chinese company also need to get their share. The true figures haven't been released yet.

 

[amboli]

When Poly-GCL signed the petroleum development agreement in 2013 with the then Ministry of Mines it agreed to pay USD 100 million to the Ethiopian government for the Calub and Hilala gas fields. Based on the production sharing agreement, the Ethiopian government will have a 15 percent share while Poly-GCL will have a majority 85 percent. In addition to its share on the product, the government is entitled to income tax, royalty and land rent fees.

https://www.thereporterethiopia.com/article/poly-gcl-negotiates-governments-stake-gas-project

 

[amboli]

So actual share is 85% China, 7.5% Somali Region, 3.75% Addis Ababa, 3.75% Federal States

 

[Farjano-Walad]

So actual share is 85% China, 7.5% Somali Region, 3.75% Addis Ababa, 3.75% Federal States

but over the years this will increase up, no one will accept the chinkis taking 85 for indefinitely, it will increase towards the ethiopian/somali region up and up until its 70/30

 

[bluebird]

So actual share is 85% China, 7.5% Somali Region, 3.75% Addis Ababa, 3.75% Federal States

What the...This is why you never see a wealthy African nation looool

While somalis where fighting each other these Ethiopians were developing their country and this is why they can’t leave the poverty line of being a 3rd world country. They get some roads paved in their capital and put themselves in debt with the Chinese who get rich from another clueless one of the african man