Somalia Billions of Oil Barrels Attracting West,
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Posted On: 04/30/2014 2:23:39 PM
Somalia Billions of Oil Barrels Attracting West, British Petroleum Stakes High
April 30, 2014 6:44 am by: David Goldman A+ / A-
Somalia is expected to see oil and gas explorers announce results of their preliminary exploration activities by 2015 or early 2016 depending on the security situation in the country.
However, companies like British Petroleum who are sending ships to drill onshore the Somali Indian Ocean coast may not suffer security setbacks.
The blocks Shell and British Petroleum are to explore are lucrative and less likely to be targets of terror attacks or militancy, Strategic Intelligence observes.
These blocks are onshore and near the Kenyan border. This placement is strategic and it was well thought before the agreements between the Somalia government and representatives of these companies.
The agreements were based on previous studies on the tertiary structure and preliminary testing results.
BP did not just bid or go for an onshore block off the coast of Somalia, it new where to go, and that was the bait.
The reports of unexplored billions of oil barrels in Somali coastlines has attracted the West.
They are opening embassies, others are offering aid, You have heard they are training soldiers and providing arms, these are strategic moves.
Somalia petrol department recently announced that it was opening up the country to exploration and companies that had exploration licenses should express their interests to continue with the exploration activities.
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