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Tuesday, October 29, 2024

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    Turkiye Expands Oil and Gas Exploration with New Deal in Somalia

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    Somali Magazine - People's Magazine

    The Turkish Petroleum Corporation (TPAO) has secured a significant agreement with the Somali Petroleum Authority, launching new onshore oil and natural gas exploration in Somalia by Turkiye. This venture builds upon the ongoing efforts of Turkiye to strengthen its energy presence in foreign territories. TPAO’s involvement will begin with seismic studies conducted by the Oruç Reis ship off the Somali coast, expected to last around six months. Collected data will then undergo analysis in Ankara to help pinpoint the most viable drilling locations.

    Strengthening Bilateral Relations Between Somalia and Turkiye

    Energy Minister Alparslan Bayraktar underscored Türkiye’s deepening ties with Somalia, mentioning that collaborative energy projects have intensified bilateral relations. Ahead of the agreement’s signing, Minister Bayraktar also held discussions with Somali Prime Minister Hamza Abdi Barre and President Hassan Sheikh Mohamud, reinforcing both countries’ commitment to shared energy initiatives.

    Previous Offshore Ventures

    Earlier this year, Türkiye signed memorandums of understanding (MOUs) that allowed TPAO to explore three offshore zones in Somali waters, covering about 5,000 square kilometers each. These offshore licenses emphasize Türkiye’s proactive approach to establishing itself in the Horn of Africa’s energy market, as the country also seeks to enhance its global oil and gas portfolio.

    Expanding The Energy Reach of Turkiye

    Türkiye has increasingly positioned itself as a global player in the energy sector, investing in projects across the Black Sea and the Cudi-Gabar region. These ventures not only bolster Türkiye’s energy security but aim to reduce reliance on external sources, positioning the nation as an exporter of natural gas.

     

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