Business and investment in

Africa

Africa is the 2nd continent on Earth in area with a great amount of natural resources.  There are more than 50 countries with fast growing economies and 1.5 bln population here. Africa today offers big opportunities for business and investment.

Somalia starts looking for oil

 

 

The Somali government has announced the start of offshore drilling in search of oil.

 

The official statement was made after the Turkish research vessel Cagri Bey arrived in Somali waters. Turkish specialists are expected to start drilling a well in the Curad-1 field at the end of this month.

 

In 2024, Somalia and Turkey signed oil and gas exploration agreements, laying the foundation for strategic cooperation in the energy sector.

 

Another Turkish research vessel, Oruc Reis, earlier completed seismic surveys at three offshore blocks along the coast of Somalia, paving the way for the start of the drilling phase.

 

SHABELLE