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Oil Deal

News Keydmedia Online | 28 December 2022

In October, Somalia signed a petroleum exploration agreement for seven offshore blocks with United States-based Coastline Exploration.

News Keydmedia Online | 27 October 2022

The meeting discusses how to strengthen cooperation between Villa Somalia and the regional states and join hands in the fight against Al-Shabaab as well as deal with the drought.

News Keydmedia Online | 26 October 2022

The meeting comes amid an offensive against Al-Shabaab in central Somalia.

News Keydmedia Online | 26 October 2022

Coastline Exploration Ltd which is based in Houston, Texas, paid $7 million to the government as a signature bonus after president Hassan Sheikh gave it a green light to proceed with the oil exploration.

News Keydmedia Online | 21 October 2022

No government officials were immediately reachable for comment.

News Keydmedia Online | 25 April 2022

If the oil price falls below $70 per barrel, Mursal said, the “government loses money to the contractor”. At $60 per barrel, he continued, the government receives only 42%.

News Keydmedia Online | 21 April 2022

The Minister, who was a close ally of Farmajo before their fallout announced in February via his Twitter account the signing of seven production-sharing agreements for offshore hydrocarbon exploration.

News Keydmedia Online | 20 April 2022

In addition, the government has instructed Attorney General Suleiman Mohamed Mohamud to investigate the contract and take appropriate legal measures.