Somalia to Drill Its First Oil Well in the Coming Months: President
Somalia to Drill Its First Oil Well in the Coming Months: President
Drilling a well to assess the volume and quality of oil reserves will unlock new economic opportunities and transform the future of Somalia, President Hassan Sheikh Mohamud stated at the opening of the regular session of parliament.
The president further stated intentions to significantly improve Somalia's economic infrastructure by:
🟠expanding roads,
🟠modernizing airports,
🟠developing major ports,
🟠the construction of Africa's first satellite launch pad.
In recent years, the Somali government has signed a number of exploration and drilling agreements with various foreign companies specializing in oil and gas production.
Preliminary results from seismic surveys onshore and offshore indicate that Somalia may possess significant reserves of these natural resources.
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