Somalia Moves Closer to Revive Oil Sector, Oil Minister Says

The transcript discusses Somalia's efforts to attract oil investments, highlighting its strategic location and promising data. It addresses security concerns, exploration activities, and a territorial dispute with Kenya. The government is working on agreements with companies like Exxon and Shell, aiming to finalize legislation and start a bidding process.

What makes Somalia an attractive location for oil exploration?

• Its strategic position and promising data

• Its large population

• Its advanced technology

• Its high GDP

What measures have been taken to ensure the safety of offshore oil exploration in Somalia?

• Deployment of military forces

• Conducting seismic surveys with zero incidents

• Building new infrastructure

• Hiring international security firms

How much oil reserves are estimated to be in Somalia according to the presented data?

• 10 billion barrels

• 40 billion barrels

• 20 billion barrels

• 30 billion barrels

What is the current status of the territorial dispute between Somalia and Kenya over oil blocks?

• It has been resolved

• It is pending a decision from the International Court of Justice

• It is being negotiated directly between the two countries

• It has been escalated to the United Nations Security Council

Despite the territorial dispute, how is the relationship between Somalia and Kenya described?

• Hostile

• Neutral

• Cooperative

• Non-existent

What was the recent agreement between Somalia and the companies Exxon and Shell about?

• Selling oil blocks to other companies

• Building new oil refineries

• Starting new exploration projects

• Repaying past debts and setting a roadmap for future activities

What is the next step after the roadshow for oil exploration in Somalia?

• Signing new contracts with companies

• Starting the bidding process for oil blocks

• Building new infrastructure

• Conducting more seismic surveys