Royal Dutch Shell confirmed to the Somalia government its willingness to return to explore oil in the country after decades of conflict raped the East African nation.
A intelligence report on companies that may resume oil exploration in Somalia, the Somali Oil Report points out different international companies including Shell Plc.
Some companies have already started to move in to farm for oil and Royal Dutch Shell Plc may start exploration after leaving two decades ago.
Hussein Ali Ahmed, managing director of the state-owned Somalia Petroleum Corp confirmed that the corporation has contacted all previous oil exploration blocks holders to resume exploration activities.
Shell has a large farm to explore oil but left late 1991 when Somalia fell to anarchy.
The Somalia government insists that the security conditions there have significantly improved and explorers can continue with the work.
According to Hussein Ali Ahmed the security situation is “sufficient” for companies that have contracts dating from before a civil war started in 1991 to return and end long periods of force majeure.
Maybe Russian money will make a smart move here.