Somalia’s upstream oil and gas industry will benefit from greater investor confidence and undergo subsequent growth in the years to come, if the Somalian government provides the political stability, security and infrastructure required for large-scale development
That’s according to an analyst with research and consulting firm GlobalData.
John Sisa, Lead Upstream Analyst for GlobalData, says that after emerging from two decades of civil war and establishing a central government, Hassan Sheikh Mohamoud, president of the Federal Government of Somalia (FGS), now has one eye on the promise of petro-revenues and another on establishing authority over the regional governments.
Sisa believes the potential growth of Somalia’s oil and gas industry depends highly on a cooperative definition of the Somali Petroleum Law between both sides – a successful resolution of the pressing issues between the FGS and Somaliland governments will help to increase stability and therefore encourage further investment in the region’s oil and gas exploration industry.
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