Somalia opens first federal offshore oil bidding round in a decade
Seven blocks off the Indian Ocean coast are on offer as Mogadishu bets on hydrocarbons to fund reconstruction — and tests investor appetite after years of legal disputes.
Ahmed Warsame·Mogadishu·
Mogadishu — The Somali Petroleum Authority launched a licensing round covering seven offshore blocks between Hobyo and Kismayo, the first federal round since a fragile 2013 attempt collapsed.
Officials say revenue sharing with federal member states has been settled ahead of the round, though at least one state has publicly reserved its position on onshore adjacencies.
Bids are due in early 2027; production-sharing terms follow a model published last month that favours cost-recovery over signature bonuses.
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