Turkish Energy Minister Announces Deep-Sea Oil Drilling Plans off Somali Coast for 2025

Turkish Energy Minister Alparslan Bayraktar has announced plans for deep-sea oil drilling off the Somali coast in 2025, following an oil and natural gas cooperation deal signed between Türkiye and Somalia in March 2023. The drilling is set to commence next year, according to Bayraktar's interview with broadcaster NTV.

The announcement comes after the two countries signed a 10-year offshore oil and natural gas exploration agreement last month, which allows Türkiye to explore, appraise, develop, and produce petroleum from onshore and offshore blocks in Somalia, as well as market the products. A senior government official confirmed that the offshore oil drilling is expected to commence in 2025, but only after a production-sharing agreement is signed between the two countries.

The deal is part of a broader effort to strengthen economic and defense ties between the two nations. In February 2023, Türkiye and Somalia reached a Defense and Economic Cooperation Framework Agreement, under which Türkiye will also build, train, and equip the Somali navy. Türkiye has invested heavily in Somalia's education, infrastructure, and health sectors, and provided extensive humanitarian aid. The total value of Turkish investments in Somalia has reached $100 million, and Türkiye has been a major security and development partner of Mogadishu.

Why this matters: The oil and natural gas cooperation deal between Türkiye and Somalia is expected to double Somalia's economic fortunes, which has struggled with insecurity for the last three decades. The exploration of Somalia's maritime oil reserves is projected to economically assist the country in stabilizing.

In addition to the Somali drilling plans, Bayraktar discussed Türkiye's broader energy agenda. He mentioned that oil production in the Gabar field in Şırnak province has recently exceeded 40,000 barrels of daily output, with a goal of reaching 100,000 barrels by the end of 2024. The minister also touched upon Türkiye's ambitious exploration program for 2024, with plans to drill 140 wells throughout the year in various locations.

Bayraktar addressed the ongoing issues with the Iraq-Türkiye oil pipeline, which has been offline since March 2023 due to a dispute between the Iraqi central government and the Kurdistan Regional Government (KRG). Türkiye is open to cooperation to resolve the pipeline issue and ensure the flow of Iraqi and Turkish oil through the Ceyhan port.

The news of the Somali drilling plans has received mixed reactions from Somalis. While some welcome the potential economic benefits, others have expressed concerns about the lack of security in the country. "The deal is expected to double Somalia's economic fortunes, which has struggled with insecurity for the last three decades," a senior government official stated, highlighting the significance of the agreement for Somalia's future stability and development.

Key Takeaways

• Turkey to start deep-sea oil drilling off Somali coast in 2025 under new deal.
• Deal allows Turkey to explore, develop, and produce oil/gas in Somalia's offshore blocks.
• Turkey and Somalia signed a 10-year offshore oil and gas exploration agreement in 2023.
• Oil production in Turkey's Gabar field reached 40,000 barrels/day, aiming for 100,000 by 2024.
• The deal is expected to double Somalia's economic fortunes, but security concerns remain.