Somalia is among East African countries with huge deposits of oil and gas, head of the Petrol Department for the Somali Federal Republic has reported.
Somalia is yet to confirm oil deposits that are commercially viable as no exploration has been ongoing.
There has been efforts to explore in the north East and the explorer spudded several wells before pulling out.
There is an estimated 500million barrels of oil in Somalia and British firms have already signed exploration contracts with Somalia.
The Petrol Department for the Somali Federal Republic Hussein Ali Ahmed has confirmed that a contract was signed allowing a British company to explore Somalia’s oil and gas reserves.
