Somalia and Turkey have agreed to cooperate on the exploration and production of hydrocarbons in the Horn of Africa nation, according to a statement from the Somali Ministry of Petroleum and Mineral Resources.
The agreement was signed on Thursday by the Somali Minister of Petroleum and Mineral Resources, H.E. Abdirizak Omar Mohamed, and the Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar, during a visit by the Somali delegation to Ankara.
The deal aims to enhance the capacity and expertise of the Somali ministry in the development of hydrocarbons, which are natural resources that generate raw energy sources such as oil and gas.
“This is an important event for our two countries, and we are particularly grateful to Turkey for their support in strengthening and accelerating the production of hydrocarbons in Somalia,” Minister Mohamed said in the statement.
He added that the agreement would also boost the economic and social development of Somalia, which has been recovering from decades of civil war and instability.
Minister Bayraktar expressed his confidence that the agreement would pave the way for more cooperation and investment between the two countries in the energy sector.
“Turkey and Somalia have a long-standing friendship and partnership based on mutual respect and trust. We are committed to supporting Somalia in its efforts to achieve peace, stability and prosperity,” he said.
The agreement comes as Somalia prepares to hold its first-ever offshore licensing round, which is expected to attract international oil and gas companies to explore its vast and untapped hydrocarbon potential.
According to the Somali ministry, the country has an estimated 30 billion barrels of oil and 8 trillion cubic feet of gas in its offshore basins.
