Somalia presses ahead prematurely with licensing, but new constitution is needed

摘要

SOMALIA could possibly become an African E&P hotspot if it meets an ambitious first-oil target of 2027. That would finally lay to rest all those tall tales of a dysfunctional, corrupt and fragile state unable to govern, let alone administer, a viable licensing regime. Three decades after the civil war stopped play, the unelected Federal Government of Somalia (FGS) is touting a new Petroleum Law & Revenue Sharing Agreement, offering 15 offshore blocks beyond those old legacy awards to Shell and ExxonMobil which remain in force majeure.