MOGADISHU, (HAN) — The Somali government has announced that the country’s oil drilling operations have entered their final phase, a development officials describe as a major step toward harnessing Somalia’s long-untapped natural resources.
In a statement released over the weekend, the Ministry of Petroleum and Mineral Resources said that the exploration and drilling work, which has been ongoing for several months, is now approaching completion. Authorities did not disclose the exact location of the drilling sites or the companies involved but indicated that the project is being carried out in cooperation with international energy partners.
“The drilling of Somalia’s oil wells is now in its concluding stage,” the ministry said, adding that the government is committed to ensuring transparency and environmental protection throughout the process.
Somalia has one of the most promising but underdeveloped oil and gas basins in East Africa. For decades, insecurity and political instability have hindered exploration and investment in the energy sector. In recent years, however, the government has worked to stabilize the country, introduce new petroleum legislation, and attract foreign investors.
Energy experts say successful oil extraction could transform Somalia’s economy by generating much-needed revenue, creating jobs, and reducing reliance on foreign aid. However, analysts also warn that resource management will be critical to avoiding the “resource curse” that has affected several other developing countries.
In 2023, the government signed new agreements with international companies for offshore exploration, while also facing disputes with some regional authorities over resource-sharing and licensing rights.
Officials say the government aims to use revenue from the oil sector to strengthen national development, fund infrastructure, and improve basic services such as education and healthcare.
“This is a historic moment for Somalia,” the ministry’s statement added. “If managed responsibly, the country’s natural resources can bring prosperity and stability to future generations.”
