Somalia poised for oil-based transformation
The government hopes that promising geology and attractive fiscal terms will attract the interest of IOCs to develop its offshore oil discoveries
Great excitement and interest accompanied Somalia’s recent launch of its first offshore oil and gas exploration licensing round, with more than 250 energy companies and investors attending the virtual roadshow. Enthusiasm is being fuelled by promising geology, top quartile fiscal terms, reduced concern about security issues offshore and the backdrop of a much improved political and economic situation in Somalia. Somalia has adopted a refreshingly professional approach to the licensing round, with legislation that ensures the sanctity of contracts and is more transparent and investor friendly than many other established petroleum provinces around the world. Encouragingly, two of the largest i
Also in this section
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
