Türkiye, Somalia Sign Onshore Oil and Gas Exploration Deal

Turkish Petroleum will begin exploration activities for oil and gas in three fields in Somalia in the coming months, Türkiye's Energy and Natural Resources Minister Alparslan Bayraktar announced on Thursday.

Turkish Petroleum Corporation and Somali Petroleum Authority signed the onshore hydrocarbon exploration and production agreement in the Turkish capital Ankara, The Caspian Post reports, citing Anadolu Agency.

Oil and gas exploration activities will begin in the coming months in three key onshore fields covering approximately 16,000 square kilometers, Bayraktar said.

He explained that the first phase will involve seismic studies, followed by drilling operations, with the goal of discovering and producing oil and gas in those fields.

Türkiye's seismic ship Oruc Reis is currently carrying out three-dimensional seismic studies in areas off the coast of Somalia as part of a previous deal.

Noting that the Oruc Reis has already completed approximately 78% of the exploration activity, Bayraktar said: "By the end of May, we will have completed the seismic studies there."

"Based on the data collected, we will make our decision regarding the next phase, which is drilling," he explained.

Bayraktar also disclosed that Istanbul will host the International Natural Resources Summit on May 2.

Ministers and relevant companies from around the world will gather for the event aimed at enhancing cooperation, particularly in the oil, natural gas, and mining sectors.

"It's a historic day for all of us," said Somalia's Petroleum and Mineral Resources Minister Dahir Shire Mohamed.

He said a team will be mobilized to go to Somalia to assess and prepare for the "great job that's ahead."

According to him, the Turkish and Somalian presidents "are committed to taking Somalia to a different level."

"Somalia has been under decades of civil unrest, war, and fighting against insurgents. But it is now time to develop our natural resources and with the help of our Turkish brothers, we're going to achieve this in the shortest future," he added.

For future collaborations, the Somali minister said: "We are also thinking of other resources such as minerals."

He said once the necessary regulatory groundwork is in place, Turkish mining companies can enter Somalia to establish agreements and contracts.