British Strategic Interest in Somalia Oil, Intelligence on Exploration LicensesMay 15 | Posted by David Goldman | Energy Intelligence, Intelligence News
Sudden British interest in Somalia raised many questions with neither question finding a sound answer due to obscurity of the issue.
The strategic interest of the British government on Somalia is based on energy intelligence and the vast energy reserves in form of oil lying both onshore and offshore Somalia.
British Government wants to secure oil exploration licenses awarded to several British exploration companies including British Petroleum BP and Asante Oil.
BP held Somali exploration concessions in the 1980s before leaving in 1991 when Somali warlords toppled the dictator Said Barre.
These concessions are still valid and the British Government wants BP to re-enter Somalia and start exploration.
The current Somalia regime has accepted terms set by the British in return keep the licenses and concessions made during the Said Barre regime valid.
Unlisted British Oil explorer Asante Oil acquired a license for the Nugaal Block from the Somaliland government. The Nugaal Block is rich with Hydrocarbons and is currently being explored and drilled by Horn Petroleum and Africa Oil in a joint venture.
Intelligence by Strategic Intelligence confirms BP and Shell initiative to support job-creation projects in the coastal regions of Somalia.
Shell Oil Co subsidiary Pecten Somalia Co, holds an exploration license for a block in the Indian Ocean offshore Somali.
These concessions excite the British government, and owing to the vast possibilities of oil finds estimated to be in billions of barrels, the British want to invest heavily in security and economy in Somali.