Mogadishu (AX) — The Turkish research vessel, Oruc Reis, is embarking on a groundbreaking voyage to explore oil off Somalia’s coast. This mission heralds a significant step forward in Somalia’s quest for economic revolution. This expedition follows deals inked earlier this year, handing Turkish Petroleum the keys to explore three vast offshore blocks. Stretching across roughly 5,000 square kilometers each, this endeavor ranks as one of the most massive energy explorations in the area.
The Oruc Reis is poised to reach Somali waters by month’s end. In the coming seven months, the vessel will conduct an array of 2D and 3D seismic surveys hunting hidden oil and gas stashes. The intel gathered will map out potential drilling zones, paving the way for Somalia’s foray into the world’s energy scene.
The Oruc Reis is flanked by two Turkish naval frigates and three supportive ships, Zaganos Paşa and Sancar, showcasing Turkey’s tightening defense alliance with Somalia.
Somalia is all-in on this mission, with Petroleum Minister Abdirizak Mohamed dubbing it a “monumental day.”
At the send-off shindig, Turkish President Recep Tayyip Erdogan underscored the mission’s import. “Since 2017, the Oruc Reis has been vital in our maritime exploration. Now, it will boost Somalia’s economic growth by unearthing offshore energy resources,” Erdogan pronounced.
Setting sail from Filyos in Northwest Turkey, the Oruc Reis sails through the Mediterranean, traverses the Suez Canal, and hits the Red Sea en route to Somalia. This trek is pegged at about 20 days, with the vessel expected to wave hello to Somali waters as the month wraps up.
Fresh seismic studies point to vast hydrocarbon treasures in Somalia, especially in offshore basins. Initial surveys hint the Somali Basin might sit on up to 30 billion barrels of oil. Other oceanic regions like Obbia and Coriole Basins may also cradle between 5 and 20 billion barrels. While these numbers are still in the speculative stage, they spotlight the colossal energy reserves lurking beneath Somalia’s waves.
In addition to oil, Somalia is a treasure trove of natural gas. Initial estimations suggest a whopping 100 trillion cubic feet (tcf) of natural gas might be tucked away, with the Somali Basin alone possibly hoarding 40 tcf.
Nailing down and tapping into these resources could reshape Somalia’s economy. The International Monetary Fund (IMF) has a bright projection: oil and gas production could rattle in $5 to $10 billion yearly for the federal and regional coffers. This bonanza would puff up Somalia’s GDP by 7-10% annually. As a fresh player on the energy exporting stage, Somalia might cut East Africa’s strings from Middle Eastern oil while wooing investments from global heavyweights.
The dough from energy could bankroll vital development efforts. Somalia’s infrastructure has taken a beating from endless conflict. The World Bank estimates north of $10 billion is required to patch up roads, ports, and pipelines crucial for the oil and gas game.
Oil giants like Chevron, Eni, and ExxonMobil have been nosing around Somalia’s resources since the 1950s. But when civil war erupted in 1991, operations hit the brakes.
Edited by: Ali Musa
Axadle international–Monitoring
