Mogadishu December 28, 2022 (SD) -The Federal Ministry of Petroleum and Minerals of Somalia has opposed Genel Energy’s oil exploration plan in Somaliland.
A press release issued by the ministry warned of the dangers of illegal investment and exploration that the company is said to be conducting in Somaliland.
The Federal Government of Somalia informed foreign investors that the Ministry of Petroleum and Mineral Resources is the only agency that can legally authorize the exploration of Somali resources.
Genel Energy has an agreement with Somaliland to extract oil from Somaliland. According to Somaliland, the company is expected to start extracting oil in 2023.
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