Somalia Oil Find as Turkey Uncovers 20B Barrels

Turkish explorers offshore Somalia discovered commercially viable crude oil, estimated at 20 billion barrels.

Under an agreement, Turkey controls 90% of the oil and gas output rights in Somalia.

The deal has faced criticism for its unfavorable terms toward Somalia, a country struggling with war and financial instability.

Somalia’s President Hassan Sheikh Mohamud has defended the agreement, emphasizing its potential to unlock the country’s energy sector.

After the 1991 war, major oil and gas companies withdrew from the exploration deal, leaving the country in a prolonged period of instability.

source: northafricapost.com