One lucky, enriched African country just discovered that they’ve been sitting on massive 30 billion barrels of crude oil. As expected, the citizens of Somaliland received this good news with a ray of Hope; why? Because they will be rich, but there are some mixed reactions; why?
Neighboring countries claim that country as their own or the territory where that country sits to be their territory. The latest Oil exploration has confirmed one thing. Somaliland has an estimated 30 billion barrels of crude oil in its offshore Fields.
The background story to this discovery is that back in 2020. This Norwegian seismic survey company, TGS, came to the coast of Somaliland. They had permission to do the systemic survey: they reflect sound waves on the ocean floor using equipment, and then this sound wave creates the CAT scan.
It’s a way of basically detecting minerals like crude oil and gas, and now this company went back to their country and studied those diagrams. Today they have come back with a report which says that they are convinced from those diagrams there could be offshore reserves of about 30 billion Barrels.
Somaliland now becomes the 18th country in the world regarding the size of its proven oil Reserve. In other words, it’s at the same level as Kazakhstan. Oil discovery can convert or transform a city and a country, so Somaliland will soon be the new Kuwait on the African continent.
This discovery is being billed as the first discovery in Somaliland. Still, there have been several instances of oil seepage: oil seeps either into the ocean or comes to the surface of the land as a result of maybe human activity like mining. When people spot the oil coming to the surface, they now conclude there could be a lot of oil below that surface, and in most cases or such cases, it may not be commercial.
has already completed the construction of its representative office in Taipei, which was inaugurated on Wednesday. Somaliland’s representative in Taiwan, Mohamed Omar Hagi Mohamoud, said one important thing during the ceremony. There was nothing strange about the bilateral agreement between Somaliland and Taiwan. Indeed they are two independent states that have decided to establish relations “based on common values and democracy.”
The discovery comes two weeks after Somalia’s federal government warned Genel Energy not to conduct oil drilling in Somaliland without Mogadishu’s authorization, claiming the company was undermining the country’s sovereignty.