So what youre saying is prepare for the oil boom before it happens ? What makes you so sure that Oil weakth will be distributed proportionally ? + theres no way fgs makes more than 200M during recoveryTrust me on this I worked, in offshore drilling. There's a lot of infastructure needed to reach decent production levels. You drill several wells, then build a platform then hire/buy an oil tanker to extract the oil from the platform. You can't immediately consume the whole profit you get some if not most has to be reinvested on more infastructure projects relating to oil and gas. The good news is anyone with the decent basic level education and can speak decent English can become rich really quick. This is what happened in all resource rich frontiers that were able to employ their profits to develop their regions. most of the wealthiest families in the gulf got rich between the 40s and 60s not during the oil boom of the 70s and that's because while everyone was abandoning their nomadic/agricultural/fishing lifestyle and rushing for a stable secure jobs these families decided to provide good and services to the public, the government, and the oil companies and their subsidiaries (e.g. construction companies, medical companies, transport companies etc). The same concept also took place in california during the goldrush the first millionaire in california Samuel Brannan didn't get rich because he stumbled on huge gold reserves, he became a millionaire because he provided services to those who were making good money from the gold in an area that lacked almost everything.
In 20 years I think Somalia would be in that position here.
Turkey spent $490 million on two drilling ships
- Thread starter geeljre49
- Start date
Trust me on this I worked, in offshore drilling. There's a lot of infastructure needed to reach decent production levels. You drill several wells, then build a platform then hire/buy an oil tanker to extract the oil from the platform. You can't immediately consume the whole profit you get some if not most has to be reinvested on more infastructure projects relating to oil and gas. The good news is anyone with the decent basic level education and can speak decent English can become rich really quick. This is what happened in all resource rich frontiers that were able to employ their profits to develop their regions. most of the wealthiest families in the gulf got rich between the 40s and 60s not during the oil boom of the 70s and that's because while everyone was abandoning their nomadic/agricultural/fishing lifestyle and rushing for a stable secure jobs these families decided to provide good and services to the public, the government, and the oil companies and their subsidiaries (e.g. construction companies, medical companies, transport companies etc). The same concept also took place in california during the goldrush the first millionaire in california Samuel Brannan didn't get rich because he stumbled on huge gold reserves, he became a millionaire because he provided services to those who were making good money from the gold in an area that lacked almost everything.
In 20 years I think Somalia would be in that position here
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Making little from the deal at first is a huge W
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I think realistically, since recovery is 90%, they should recover after max 5 years
Hotchick12
VIP
once that oil wealth hits, turkish constructions, hospitals and turkish hospitality are going to be eating good
They already have the best most overly expensive hospitals and hotels in xamar, thats a real threat somalis dont see
Hotchick12
VIP
yeah we don’t have the expertise there will even be turkish malls and supermarkets in somalia
Prepare to see more stories like the airport ig
Hotchick12
VIP
there’s going to be a turkish merchant class in somalia finally somalis are bested by foreign minority in business and it’s not the timojileecs
somalia needs to work on two things tbh infrastructure and general health our people live in perpetual shell shock and maluntritionTrust me on this I worked, in offshore drilling. There's a lot of infastructure needed to reach decent production levels. You drill several wells, then build a platform then hire/buy an oil tanker to extract the oil from the platform. You can't immediately consume the whole profit you get some if not most has to be reinvested on more infastructure projects relating to oil and gas. The good news is anyone with the decent basic level education and can speak decent English can become rich really quick. This is what happened in all resource rich frontiers that were able to employ their profits to develop their regions. most of the wealthiest families in the gulf got rich between the 40s and 60s not during the oil boom of the 70s and that's because while everyone was abandoning their nomadic/agricultural/fishing lifestyle and rushing for a stable secure jobs these families decided to provide good and services to the public, the government, and the oil companies and their subsidiaries (e.g. construction companies, medical companies, transport companies etc). The same concept also took place in california during the goldrush the first millionaire in california Samuel Brannan didn't get rich because he stumbled on huge gold reserves, he became a millionaire because he provided services to those who were making good money from the gold in an area that lacked almost everything.
In 20 years I think Somalia would be in that position here
Very interesting perspective. Though I will push back on the saudi comparisons. Saudi arabia in the 40s when they discovered oil was basically at the same development of somalia back then in that it had basically nothing. Nobody lived in cities there was basically no electricity. The first saudi university didnt open till 15 years later in 1957.Trust me on this I worked, in offshore drilling. There's a lot of infastructure needed to reach decent production levels. You drill several wells, then build a platform then hire/buy an oil tanker to extract the oil from the platform. You can't immediately consume the whole profit you get some if not most has to be reinvested on more infastructure projects relating to oil and gas. The good news is anyone with the decent basic level education and can speak decent English can become rich really quick. This is what happened in all resource rich frontiers that were able to employ their profits to develop their regions. most of the wealthiest families in the gulf got rich between the 40s and 60s not during the oil boom of the 70s and that's because while everyone was abandoning their nomadic/agricultural/fishing lifestyle and rushing for a stable secure jobs these families decided to provide good and services to the public, the government, and the oil companies and their subsidiaries (e.g. construction companies, medical companies, transport companies etc). The same concept also took place in california during the goldrush the first millionaire in california Samuel Brannan didn't get rich because he stumbled on huge gold reserves, he became a millionaire because he provided services to those who were making good money from the gold in an area that lacked almost everything.
In 20 years I think Somalia would be in that position here
The conditions of 1940-1960s saudi arabia is so radically different from 2025 somalia that it doesnt really work to compare them.
Turkey and munafiq Recep Tayyip Erdoğan want to steal Somalia resources free of charge thanks to Hassan gurgurte iyo beesha hawiye
Well, the biggest problem would be of course the country's instability. But since there's a sizable reserve in the ocean now that wouldn't that big of an issue. The second biggest problem is the rough and tumble Indian ocean. The gulf is at most 90 meters deep meanwhile the indian ocean near Somalia's shores could reach anywhere from 3000 meters to 6000+ meters. That would mean a more costly drilling operation because drilling companies would need to use more equipments (e.g casing pipes, pop joints, ramers etc) and running those things would take longer time. If something get stuck during the drilling process this could mean a more costly recovering process. Drilling off Somalia's coast would also be more dangerous. Divers in Somalia would need to get paid more. Attracting experienced oil rig workers is gonna cost a lot more than the gulf. I worked with a camp boss who was paid 10k a month when he worked in Algeria back in the 90s during the unrest overthere but he was paid half of that in Saudi Arabia in 2023 because working in Saudi Arabia in 2023 is much more attractive and way safer than working in Algeria in 1995. Put in mind that this camp boss is a Filipino and he is paid 10 times the average wage in his country and twice the average in Saudi for overseeing our laundry and food now imagine how much others with more sophisticated jobs were getting paid especially the westerners. The good news is there a lot of Somali nationals working in oil&gas in the gulf. These guys could instantaneously take over the operations in Somalia. They could also help in training more Somalis to work offshore.
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