Somaliland President Abdirahman Mohamed Abdullahi, known as Irro, said the region expects to formally start oil and mineral exploration by 2027.
At the opening of the Somaliland Mining and Natural Resources Exhibition, President Irro said the region holds substantial natural resources. He added that the government plans to develop them under clear regulations and with transparency to benefit the public.
“I am pleased to inform the people of Somaliland that oil exploration in the country will begin by the end of 2027,” President Irro said.
He explained that Somaliland does not currently have any active oil exploration agreements. However, the government is seeking partners to enter the sector. He pointed to a visit by the Minister of Energy and Minerals, Engineer Ahmed Jama Barre, to the United Arab Emirates in July, where he presented oil and mineral investment opportunities to government officials and companies.
According to a statement from the ministry after the visit, several companies indicated their readiness to invest directly in Somaliland. Others expressed interest in acquiring oil exploration blocks on their own or in partnership with other firms.
source:www.dawan.africa
African Energy Council