MOGADISHU (Somaliguardian) – Two of three oil exploration blocks operated by Turkey in Somalia have yielded commercially viable reserves, with each estimated to contain up to 10 billion barrels of tradable crude, Caasimada Online news website reported on Monday.
Preliminary drilling and geological assessments in the completed blocks have concluded successfully, marking a significant breakthrough in Ankara’s deepening energy ambitions in East Africa. The third block remains under active exploration, with results expected by August. The quality and grade of the oil in that block will be determined following laboratory analysis in Turkey.
The discovery comes just days after reports surfaced that Somalia had granted Turkey a highly favorable profit-sharing agreement, giving Ankara a 90% stake in revenues from offshore oil production. The arrangement, which has not been officially published, has drawn sharp criticism from some of the country’s political leaders, who warned that such an imbalance could amount to the exploitation of Somalia’s natural resources.
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