Somalian Licensing Round to Proceed

Tuesday, May 12, 2020

The Somalian offshore has the potential to become a significant hydrocarbon play in East Africa. In February 2020, Somali President Mohamed Abdullahi Farmajo ratified the new petroleum law, which was approved by the Parliament on 6 January 2020. The new law establishes revenue sharing between the central government and all federated Somali states.

As a result, the Federal Republic of Somalia, through the Ministry of Petroleum and Mineral Resources, will move forward in 2020 to offer a number of offshore blocks to industry for exploration and production activities.

IHS Markit/TGS have been selected by Somalia to facilitate its upcoming hydrocarbon licensing round roadshow.

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