physical seed oil refinery system in somalia

                                               
                                               
                                               
                                               
                                               
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  • How much oil does Somalia have?
  • Geo-seismic studies have shown that Somalia may have at least 30 billion barrels of oil and gas reserves, but these resources will take time to develop, as detailed exploration generally takes three to five years, and production can only begin afterward.
  • What is the Somali Petroleum Authority & how does it work?
  • 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. Licensing rounds have the potential to generate much greater revenue for Somalia and its regions.
  • 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
  • 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.
  • 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.
  • 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.