What Happened to the oil exploration in puntland

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Cotton Eyed Joe

More law, less justice.
VIP
Why did they exit they found oil and the drill was successful
It was unsuccessful and they lacked funds to proceed meanwhile if anything was found there would be the old companies ConocoPhillips and Chevron to deal with because they would claim their exploration rights with Mogadishu. So these small companies wanted to take advantage of the uncertainty and sell off the exploration rights to the larger companies they never really intended to export oil they were very small companies but kudos to them for taking a risk and the massive hype which continues till this day
 
It was unsuccessful and they lacked funds to proceed meanwhile if anything was found there would be the old companies ConocoPhillips and Chevron to deal with because they would claim their exploration rights with Mogadishu. So these small companies wanted to take advantage of the uncertainty and sell off the exploration rights to the larger companies they never really intended to export oil they were very small companies but kudos to them for taking a risk and the massive hype which continues till this day
Yeah good for them I can't wait for the government of somalia to start drilling oil in 2020
 

RasCanjero-

Self imposed exile
:noneck:

There are over a 100 companies that have the technology to survey and find oil and gas.

If the Somali government just scraped together a few hundred million I'm sure we could acquire one of those companies or the technology we need.

Why give away 90% when we could find the oil ourselves, sell some of the blocks and fund our own oil & gas company?

:snoop:

Nope let's beg foreigners to do all the work for us and dream about how we'll eat good in 3 years (even though these operations take a decade...).
 
:noneck:

There are over a 100 companies that have the technology to survey and find oil and gas.

If the Somali government just scraped together a few hundred million I'm sure we could acquire one of those companies or the technology we need.

Why give away 90% when we could find the oil ourselves, sell some of the blocks and fund our own oil & gas company?

:snoop:

Nope let's beg foreigners to do all the work for us and dream about how we'll eat good in 3 years (even though these operations take a decade...).
That's true however we could go the Saudi way and get so rich that we buy the company that previously was stealing our oil
 

RasCanjero-

Self imposed exile
Yet it's something that happened before the Saudi did it in less than 30 years yeah it may suck at first but you have to think about long term profit

:umwhat: Long term profit in the age of electric cars and natural gas?

In a decade the price of oil will barely go beyond the extraction cost.

I'd rather wish we had natural gas which we could use domestically.

I wouldn't mind selling 90% of our resources if it could help us build our industries and train our people.

However dreaming these bs oil deals would end up helping Somalia is delusional.
 

Yonis

Puntland Youth Organiser
FKD Visionary
VIP
People keep forgetting that China was worse then Somalia in the height of Kacaan.

Human resource is more valuable than natural resources.

We have to many neefs not enough Shepard’s.
Bro we've been waiting since May for a new episode, keep your subscriber base strong by uploading frequently
 
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