Puntland Oil Mystery,Faroole Administration Under Scrutiny Over May-15th AnnouncementMay 11 | Posted by David Goldman | Energy Intelligence
Previous drilling developments and announcements by Africa Oil and Horn Petroleum in Puntland in the Horn of Africa Somalia went down well with local communities.
Recent activities by Al-Shabaab spy agents in the region have slowly achieved key objectives including making the local communities wary of the famous Faroole administration.
Intelligence reports show that community leaders fear the Faroole administration may be benefiting from the share value revenues gained by drilling companies upon announcement of oil exploration findings.
Community leaders assume the oil drilling is a hoax and the announcements made to report progress are aimed at ensuring the shares of the drilling companies soar.
Besides making revenue and raising hopes of the local communities at, the administration is not committed to sharing the revenues equitably further complicating the views of the communities.
Intelligence defines the Faroole administration as a tribal outfit which has bought huge stake in the exploration companies they licensed in Sool region.
If Horn and Africa oil do not discover commercially viable oil reserves scheduled to be announced on May 15th, the same day when they will vote and ratify their new constitution.
Oil discovery in Puntland has led to drilling of wells to authenticate commercial viability of the oil.