Somalia signs Shell-ExxonMobil E&P roadmap
Agreement with joint venture explorer boosts Somalia’s post-conflict effort to attract IOCs to its long-delayed licensing round
Somalia reached an agreement with a Shell-ExxonMobil joint venture on 24 February that covers future exploration of offshore oil and gas blocks, according to the East African country’s Ministry of Petroleum and Mineral Resources. The agreement enables historic concessions held by the decades-old Shell-Exxon joint venture to be converted to a new model production-sharing agreement (PSA), which was published earlier this month following the ratification on 8 February of the country’s first Petroleum Law. “I am delighted we have agreed an initial roadmap with the Shell-ExxonMobil joint venture,” petroleum minister Abdirashid Mohamed Ahmed wrote in a statement. “This gives us confidence in [ou
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
