Turkiye discovers 20bn barrels of crude oil in Somalia

Turkiye has discovered up to 20 billion barrels of crude oil in Somalia, amid Ankara’s exploration drive to find further energy sources in the Horn of Africa region.

According to Turkish and Somalia media outlets, Turkish exploration missions discovered reserves that are estimated to contain up to 20 billion barrels of commercially viable crude oil.

While two blocks it operates in the region have reportedly resulted in significant yields, the third block is still being explored and is expected to also contain sufficient commercial quantities of oil.

The discovery of the vast oil reserves comes a month after Turkiye and Somalia signed a deal on onshore oil and gas exploration in the East African nation; under the Turkish Petroleum Corporation and Somali Petroleum Authority.

Although the deal has been touted as a benefit for Mogadishu and its energy development, it has also been criticised by many as an agreement that overly favours Ankara, as it grants the Turkish energy authorities around 90 pe rcent of the rights for Somalia’s oil and gas output, as well as exempting Turkish entities from paying upfront costs such as bonuses and administrative fees.

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