MOGADISHU, Somalia – The forthcoming oil and gas explorations in Somalia promise to transform the country’s economic landscape, according to Alparslan Bayraktar, the Turkish Energy Minister. He emphasized the huge advantages awaiting Somalia once this ambitious endeavor reaches its fruition.
Alparslan shared his vision for the future, predicting that numerous international corporations will jump on board, significantly invigorating Somalia’s economy, which has faced formidable challenges for over thirty years. The Turkish survey vessel Oruc Reis has already anchored in Mogadishu, ready to initiate seismic assessments.
Bayraktar revealed an agreement between the Turkish Petroleum Corporation (TPAC) and the Somali Petroleum Authority aimed at tapping into onshore hydrocarbon resources. This partnership holds immense potential for boosting the nation’s oil production capabilities.
“The seismic research we’re embarking upon in Somalia will undoubtedly attract American firms with licenses,” Bayraktar informed the daily Milliyet. He continued, “In time, more international players might join these efforts. Both the Somalians and we are keen on this prospect. We take pride in leading this venture.”
Bayraktar characterized Türkiye’s exploration initiatives in Somalia as anything but ordinary. While the initial focus was on offshore resources, plans to venture into onshore explorations are also being considered, despite potential hurdles.
“Our chief target was offshore exploration, but it would be unwise to ignore the land-based opportunities, even with associated challenges,” the minister remarked.
Bayraktar noted that previous endeavors by American firms in Somalia lacked the capacity for a “wholesome operation,” leading to underwhelming results. However, the Turkish Petroleum Company is effectively tackling both seismic surveys and exploration. A handful of American firms had hesitated due to perceived risks, he pointed out.
Intriguingly, one of these American companies recently visited Türkiye for discussions. “Their outlook has shifted positively with the presence of [Oruc Reis] conducting detailed seismic research in Somalia. Holding a license now has tangible value for them,” he mentioned.
AXADLETM
