Turkey and Somalia sign agreement: Oil and natural gas exploration concession

12PUNTO FOREIGN NEWS

Turkey and Somalia have signed a second agreement following the defense pact signed last month. The agreement, signed in Istanbul by Minister of Energy and Natural Resources Alparslan Bayraktar and Somali Minister of Petroleum and Mineral Resources Abdirizak Omar Mohamed, will grant Turkey exploration and drilling concessions for hydrocarbon reserves in Somali territorial waters.

The defense agreement signed last month grants Turkey the authority to protect Somali maritime waters against terrorism, piracy, and any external threats that could violate Somali state rights for the next 10 years.

It is also stated that the agreement authorizes Turkey to develop Somalia's marine resources within its exclusive economic zone.

In a statement released on his X account, Minister Bayraktar said, “We have signed an intergovernmental agreement and a memorandum of understanding to develop our cooperation in the field of oil and natural gas in Somalia's onshore and offshore blocks. With this agreement, we will carry out joint activities to bring the resources that Somalia possesses to the Somali people. We aim to strengthen Turkey's presence in the Horn of Africa with new collaborations in the energy sector.”  

News Source: 12punto