Somalia is expected to announce 30 billion barrels of oil licenses in December

Mogadishu(SD)-Somali Minister of Petroleum and Mineral Resources Abdirashid Mohamed Ahmed told Reuters news agency that Somalia plans to release up to 30 million barrels of oil a month to attract investment companies.

The minister, who is attending a South Africa oil and gas exploration company, also said that more companies will compete in 2020.

The minister added that information related to the recent survey of the 15 kits, which could contain 30 billion barrels of oil.

The minister also said that piracy off the coast of Somalia has now been cleared.

Gas and fuel investments he said will provide employment opportunities for young people, which could help young people not join gangs and contribute to the country’s security.

The president of the federal government of Somalia said he would soon sign the oil law, which is currently in the upper chamber of the country.

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