Somalia to be the 7th Largest oil rich nation, real soon
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''Yet it is the extent of oil deposits beneath the Indian Ocean that is most exciting Somali officials. One said the potential was comparable to that of Kuwait, which has more than 100bn barrels of proven oil reserves. If true, the deposits would eclipse Nigeria's reserves – 37.2bn barrels – and make Somalia the seventh largest oil-rich nation''.
The company estimates there could be up to 4bn barrels (about $500bn worth at today's prices) in its two drilling plots. Other surveys indicate that Puntland province alone has the potential to yield 10bn barrels, placing it among the top 20 countries holding oil.
Somalia's offshore oil dwarfs that on land.
http://www.guardian.co.uk/world/2012/feb/25/britain-oil-dash-somalia
Comments
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That explain why all of a sudden the UK wants to provide aid.
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kai_valya wrote:well, probably explains why everyone and their mother wants to be in charge.
hopefully this will lead to an end to the civil war, but i'll believe it when i see it
I hope Puntland(sp) don't break away and become it's own country and share the wealth with everyone.
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Puntland would never break away, its the heart of Somalia, Plus the Prime minister of the country is from that region and so are numerous key figure politicans. Puntland wants a federal state, which IMO is great because a central state would never work in a country like Somalia.
I highly doubt Puntland is the only region with oil. Also Somalia is known to have 1/2 or 1/4 of the world's known uranium reserves. No wonder its been in choas for over 2 decades. -
Somalia is ? , everybody and their mama is strapped and struggling to survive, there is no order or real central government, have known war/poverty and all of it's extremes for decades now
and 'offshore' Somalia has been gettin ? for years now, corps from China to Holland have been dumpin their waste there....
it's not that I gave up hope on Somalia, not at all, but so many things need to happen first it's absurd, it will take years/generations
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some how i see this not ending well
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It doesn't matter unless they get a strong and competent central government that isn't corrupt. Otherwise, they are just going to get taken advantage of by outside forces or torn apart my internal ones.
It's not like Africa doesn't have resources that could strengthen the continent. Hell, there are minerals there that modern technology depends on. The countries just can't get themselves together to use those resources to move forward. -
what is it with the so called first world and oil?? When is it enough?
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7th largest though?
Talk to me when they in the top 3.
