Oil and gas has been found in Somalia leading to a wild scramble for Somalia, particularly with the British government shifting its military assets focus to Mogadishu.
The value of these oil deposits are estimated to be 100 billion barrels of oil, an amount large than what Kuwaiti has.
The value of oil in Somalia is immeasurable, Africa Oil finds in Puntland quantify this perspective.
Africa Oil is expecting to start oil production in Somalia’s northern autonomous enclave of Puntland in a few months to come.
If this is successful, Somalia will become the seventh largest oil producing nation.
Already British Petroleum BP, has been appointed as a choice strategic partner by Somali officials.