Somalia is preparing to begin oil drilling in the coming months, President Hassan Sheikh Mohamud announced on Monday.
He made the announcement while addressing parliament, signaling a major step toward unlocking the country’s long-anticipated natural resource potential.
The President said preparations are already underway to launch the drilling program.
The momentum is expected to mark a turning point in Somalia’s efforts to rebuild its economy after decades of conflict and instability.
“Somalia is now ready to enter a new phase of economic growth through the exploration and responsible use of its natural resources,” President Hassan stated.
He noted the government is working closely with international partners to ensure the project adheres to global standards.
The announcement comes as Somalia continues to strengthen its energy sector regulatory framework to attract foreign investment.
He addressed concerns over transparency, environmental sustainability, and equitable distribution of resource revenues.
Energy experts believe offshore oil reserves in Somalia could significantly boost government revenue, create jobs, and improve infrastructure.
However, analysts also warn that the management of oil wealth could present challenges, particularly in ensuring accountability and preventing resource-driven conflicts.
President Hassan reassured citizens that his administration is committed to ensuring that the benefits of oil drilling will be shared across all regions of the country and contribute to long-term peace and development.
The government is will release more details on the timeline, exploration blocks, and international partnerships involved in the drilling process in the coming weeks.