soyabean oil refinery in somalia

                                               
                                               
                                               
                                               
                                               
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  • Why did oil and gas companies leave Somalia?
  • Prior to the conflict and collapse of the government in 1991, international oil and gas majors had exploration agreements in Somalia, but they withdrew from the country because of the civil war. Energy firms like Royal Dutch Shell and ExxonMobil operated in Somalia before the government collapsed in 1991.
  • What oil companies operate in Somalia?
  • Energy firms like Royal Dutch Shell and ExxonMobil operated in Somalia before the government collapsed in 1991. In 2020, the government passed a petroleum law under which the Somali Petroleum Authority was established to regulate the industry and guide deals with international contractors.
  • Is Somalia a new frontier for oil & gas exploration?
  • Overall, the country, located in the Horn of Africa and bordered by Kenya and Ethiopia and close to Yemen, is a promising new frontier for oil exploration; it is not without its risks and challenges though. Oil and gas exploration started in Somalia in the 1950/60s, with a total of 70 wells drilled, 80% of which were onshore.
  • Is there oil in Somaliland?
  • The presence of oil in Somaliland has been confirmed by a recent exploration. The discovery has raised the stakes in Somaliland¡¯s claim for independence from Somalia as it holds the potential for a new stream of revenue for the semi-autonomous state.
  • What happened to oil exploration in Somalia?
  • Somalia remained off the radar for oil exploration companies for 25 years after the collapse of the government in 1991. Existing geological and geophysical data were mostly lost or destroyed. The regulator says that the licensing round is supported by 20,185 km seismic data, complementing 20,500 km of existing seismic data acquired in 2014.
  • What if a contractor makes oil & gas discovery in Somalia?
  • If the Contractor makes oil and gas discovery, it should inform the Somali Petroleum Authority and submit a Development Program for exploration to start. The production period would be typically 25 years with the possibility of extension for 10 years. It should also prepare Production Work Program and budget annually