Description: Somalia’s energy minister, Dahir Shire, announced that state – owned Turkish Petroleum would dispatch its offshore drilling vessel, Cagri Bey, on 10 Apr, and commence drilling operations in the Arabian Sea. The initiative follows more than a decade of cooperation between the two countries as Turkey has heavily invested into the Mogadishu federal government through defense cooperation, resource exploration efforts and political backing. Turkey’s energy minister, Alparslan Bayraktar, stated that all discoveries off the coast of Somalia would largely benefit its people as well as the global energy market in times of crisis. Cagri Bey is expected to arrive in three days’ time, following previous exploratory efforts by Turkish Petroleum vessels in the region which have discovered the vast potential of Somalia’s coast.
Impact: Somalia’s vast offshore oil potential represents a significant strategic asset for the country that could likely impact the global energy market in the long – term. The country finds itself in a state of evolving turmoil and internal political instability as the five semi-autonomous regions are vying for control and partition. With its involvement in the project, Turkey aims at countering Israel’s regional push for influence through its official recognition of Somaliland late last year. The offshore drilling project could face surmounting challenges, such as threats from terrorist attacks by Al Shabab, which has expanded its area of activities within the past year, or political opposition from the other leaders of the semi – autonomous regions in the country. The initiative further exposes Somalia on the global energy map, making it a major focal point for oil exploration and a basis for future foreign investment.