Somalia Attracts New Energy Investors Amid Expanding Oil Agreements

GOOBJOOG NEWS | MOGADISHU: Petroleum and Mineral Resources Minister Daahir Shire Mohamed, has said that the country is attracting major international investment in its energy sector, noting that exploration activities have begun without any security incidents.

Speaking at a press briefing in Mogadishu on Friday, the minister said Somalia’s partnerships extend well beyond its strategic cooperation with Turkey. He confirmed that U.S.-based firms Coastline Exploration and Liberty Petroleum have already signed active Production Sharing Agreements covering a total of 10 offshore blocks.

“There are indeed other companies,” Mohamed said. “We have seven blocks under agreement with Coastline Exploration and three with Liberty Petroleum. These agreements are progressing as planned.”

He added that seismic surveys launched under the Somali-Turkish energy deal have proceeded without interruption, saying the absence of security incidents should reassure investors concerned about operating in Somalia’s offshore waters.

Mohamed also outlined new measures to strengthen the mining sector, including a government crackdown on illegal extraction in regions such as Galmudug and Bari. He said the ministry is preparing to launch a national laboratory to allow citizens and companies to verify mineral samples locally, reducing fraud and stopping the practice of sending samples abroad.

The minister said Somalia is now “open for business,” pointing to improved security and updated legal frameworks that he believes can support large-scale energy and mining investments capable of reshaping the country’s economy.