The genie is out of the bottle. Somalia is an oil giant.

[SomaliMVP]

I mean the part about high quality somali oil.

I don't have a source on it but we have light oil which is good.

 

[Libaaxseendheer]

I don't have a source on it but we have light oil which is good.

I would think our oil is similar to ayrab oil because of our proximity but im not sure. Where did you hear we have light oil?

 

[SomaliMVP]

I would think our oil is similar to ayrab oil because of our proximity but im not sure. Where did you hear we have light oil?

My dad told me

 

[Aaegal]

Any new info on this topic? Will the government own the oil? Also once extractions/export starts how much will the GDP increase within the next 10 years?

 

[Mr.Haggis]

Any new info on this topic? Will the government own the oil? Also once extractions/export starts how much will the GDP increase within the next 10 years?

Well judging from the situation there will be two parties involved in the exploration of Somalia’s oil. Shell and the qatari government the government will probably have around 59% of any oil reserves

 

[Aaegal]

Well judging from the situation there will be two parties involved in the exploration of Somalia’s oil. Shell and the qatari government the government will probably have around 59% of any oil reserves

That seems like absolute shit to me... What percentage of their oil do other African nations own for comparison? Do you know how long Shell and the Qatari gov have their shares for?

 

[Mr.Haggis]

That seems like absolute shit to me... What percentage of their oil do other African nations own for comparison? Do you know how long Shell and the Qatari gov have their shares for?

You can find the spectrum presentation. I predict that Royal Dutch Shell and the Qatari alliance shall invest in our oil and gas

 

[Tukraq]

Puntland needs to own its own oil
We need our own state oil company

 

[Aaegal]

You can find the spectrum presentation. I predict that Royal Dutch Shell and the Qatari alliance shall invest in our oil and gas

Unable to find it.

 

[Crow]

I was so full of optimism a month and a half ago but after the last month of daily explosions, I have no faith in the FGS not screwing this up.

 

[kickz]

I was so full of optimism a month and a half ago but after the last month of daily explosions, I have no faith in the FGS not screwing this up.

If the oil money brings basics like infrastructure by way of sanitation/sewer facilities and roads then it will have been worth it.

 

[Aaegal]

If the oil money brings basics like infrastructure by way of sanitation/sewer facilities and roads then it will have been worth it.

They have to put laws in place so that all revenue gained is put towards the betterment of the country and not to enrich government officials. We don't want to turn into those other oil producing African countries.

Invest in national healthcare, education, infrastructure, security and so on.

I also think it would be smart to use some of the money to help the entrepreneurs of the country start their businesses. People could get loans from the government to open up factories, mines, processing facilities and so on. That way instead of just exporting any raw materials we find we can manufacture goods.