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Turkiye to drill for oil off Somali coast next year

April 19, 2024 at 9:33 am

Turkish Energy and Natural Resources Minister Alparslan Bayraktar. [Hamza Al Ahmar – Anadolu Agency]

Turkiye hopes to conduct a deep-sea oil drilling operation off the Somali coast in 2025, Energy Minister Alparslan Bayraktar said today in an interview on broadcaster NTV, Reuters reported.

Turkiye and Somalia signed an offshore oil and natural gas cooperation deal last month, further strengthening ties after agreeing a defence deal this year.

According to the Turkish Ministry of Foreign Affairs, bilateral trade volume with Somalia reached $187.3 million in 2018 and $250.85 million in 2019.

The total value of Turkish investments in Somalia has reached $100 million, while Mogadishu International Airport and Mogadishu Sea Port are both run by Turkish companies in Somalia.

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