Somalia Eyes Oil Drilling As Economic Turning Point, Minister Says

GOOBJOOG NEWS | MOGADISHU: Somalia is preparing to enter the drilling phase of its petroleum development, with officials expressing optimism that oil production could transform the country’s economic outlook.

Petroleum and Mineral Resources Minister Dahir Shire Mohamed said the government has finalized key legal and regulatory frameworks to support exploration and future extraction, adding that offshore surveys have strengthened expectations about Somalia’s hydrocarbon potential.

He said agreements reached in Baydhabo on revenue-sharing arrangements have helped ease political disputes between federal and regional authorities, clearing the way for drilling to proceed.

“The only hope Somalia has is in extracting its oil,” the minister said, describing the transition from exploration to drilling as a major milestone after years of groundwork.

According to the minister, Turkey has provided technical and logistical support under bilateral agreements. A specialized offshore drilling vessel has departed from Turkey and is expected to reach Somali waters within about 45 days.

The vessel is equipped for deep-sea operations and safety compliance, officials said, marking what the government views as a decisive step toward unlocking offshore reserves.

Somalia has long regarded its potential oil resources as a catalyst for economic growth, investment and revenue diversification as it seeks to rebuild after decades of conflict.