Turkey’s Somalia Oil Deal: Concerns Over Exploitation and Instability
Turkish exploration efforts in Somalia have unearthed an estimated 20 billion barrels of commercially viable crude oil across two of three blocks under operation. This significant discovery follows a recently signed agreement between Turkiye and Somalia granting Turkish entities substantial rights to Somalia’s oil and gas resources. While the find is lauded as boosting Somalia’s energy sector, the agreement’s terms, favoring Ankara with 90% of the output and waiving upfront costs, have drawn criticism. Further exploration is underway in the third block.
John Q. Hosedrinker