Puntland oil drilling to start soon.....

[Che -Guevara]

Wouldn't this be xoolo Qaran, and doesn't Puntland fall under the TFG jurisdiction, hence subject to its law when it comes to oil exploration. How could a province within Somalia make dealings with foriegn companies without getting pleasings from the central goverment?

[Thankful]

They have gotten several signatures from the leader of the central government President Abdullahi Yusuf in support of this project.

[General Duke]

Puntland has already made an agreement with the TFG on this. The TFG itself needs to get of hand outs and if this deal is a success, through creation of jobs, revenue collection and infrustructure development it would benefit Puntlands regions which make up more than 30% of Somalia.

 

Thus in every sense this is good for TFG, Somalia and in particular the people of the North East,.

[Che -Guevara]

Originally posted by somalipride:

They have gotten several signatures from the leader of the central government President Abdullahi Yusuf in support of this project.

Is the parlaiment suppose to approve or can the president can arbitrarily sign off on anything. And there is such obvious conflict of interests.

 

Duke...How would the revenues be split between the TFG, Pland, and those drilling the oil percentage wise.

[General Duke]

^^^First we need to establish there is a viable commodity in the ground. Then the revenues would be split between the regions and the state.

[Che -Guevara]

^Understood, but still wondering about the legality of the deal since wuxu xoolo qaran ee yihiin hence the property of all Somali people and the central goverment.

[General Duke]

The deal is legal since Puntland is a recognised part of the TFG, that the Pesident and PM signed the agreement and that the Puntland local parliment passed the oil law. Even the TFG parliment is not against this deal, it just wants to be clear that 100% of revenue does not belong to Puntland and that it must be shared. A point I support.

The central governemnt once the oil, NLG is found will take more interst.

 

It also gives an advantage to the TFG , and would be a major setback to the anti governemnt groups.

[Libaax-Sankataabte]

Cadde's focus has been to get the economy going as best as he can. Expect oil wells to pop-up in Puntland within months if not weeks.

 

He is not joking.

[Che -Guevara]

LoooooooL@get the economy...He could start by curbing the runaway inflation and improving security for commerce. Waxii yaraa lagu aamini waaye maxaa wax kawayn sheegay.

 

Duke..Puntland looks like a state within state. You can't have your cake and eat it too

[General Duke]

^^^You touched on two important points, security and inflation.

Security needs money, to recruit, train and pay the salaries of security forces, Puntland is poor it relies heavily on Bossaso, air , sea port and other city strips. Nothing else. It gets no money from the central state in fact it pays it. The quest for economic development is an ansewr to this Money brings motivation and to some extent security.

 

The inflation is a big issue, we have no central bank and our currency has been out of date for 17 years. Again both issues are a symptom of the larger economic problem.

 

Jobless youths will be drawn to clan militias, Al-Shabaab types, piracy and printing false money.

 

Cade has a valid point to go after the oil by any means.

[General Duke]

 

As for Xolo Qaran? Who is living of these things now? :confused:

[Peace Action]

I believe there is an agreement to divide the oil revenues in 3 ways. One third for the locality where the oil is found, one third for Puntland and one third for TFG. All the money receive so far were also divided and the bulk of it went to the TFG.

[General Duke]

What I like is that Che is arguing for the TFG. This in itself is an important development on SOL.

 

Peace now you are correct.

[General Duke]

[General Duke]

General Overview

 

The Nogal Valley and Dharoor Valley Blocks situated in northern Somalia cover the Nogal Basin and the Darin Basin, respectively.

 

Combined, the two blocks cover a very large area, with the Nogal Valley Block extending over approximately 12,849,479 acres, which encompasses the Nogal Basin. The Dharoor Valley Block extends over an area of 7,166,056 acres, encompassing the entire Darin Basin. These areas are very large and, with only 5 wells drilled, the area remains one of the least explored areas in North Africa.

 

The Company with their partners Range Resources Limited signed two Production Sharing Agreements (PSA) with the Government of Puntland on January 17th 2007. One covering the Nogal Basin referred to as the Nogal Valley Block and the second covering the Darin Basin referred to as the Dharoor Valley Block. The terms and articles of both agreements are identical as are the value of the work commitments for the exploration phase.