Somaliland open for business

摘要

The Somali autonomous area of Somaliland launched its first licensing round in February 2009, offering nearly 36,000 sq miles (90,000 sq km) of onshore and offshore blocks. Exploration activity is still opening new frontiers, with one of the most recent surveys targeting the Republic of Somaliland, an autonomous region in the Horn of Africa. As in any frontier, working in Somaliland will bring challenges. To date, it remains unrecognized by any country or international organization; so doing business with the Republic of Somaliland could be tricky. The possible rewards in terms of hydrocarbon reserves, however, could make it well worth the risk.