How rich is Puntland

[mahad yare]

The Nugaal block will be drilled in September 0f 2012. The Nugaal block has more oil prospect than the two Shabeele sites together. mind you, the recoverable oil in the Shabeele sites are between 150 - 300 million of barrels. the value of the shabeele sites in today's money is 15 - 30 billion. if we were to add the Nugaal block, which has anywhere between 600 - 2 Billion barrels of oil, the total oil of Puntland could be 900 - 2.3 Billion barrel oil; and that's only a small percentage of PL oil (onshore only). the offshore oil could be anywhere between 2 - 4 Billion of barrels of oil; meaning trillions of dollars. in other words, PL is about to get RICH son.

[mahad yare]

:cool::cool::cool:

[mahad yare]

[Somali philosopher]

hold your horses bro

[mahad yare]

Somali philosopher;842554 wrote:

hold your horses bro

Kudayo Puntland Kudayo

[uchi]

Most of the money will be borrowed and paid back slowly~ so the profits will be a lot less unfortunetly.

[mahad yare]

uchi;842565 wrote:

Most of the money will be borrowed and paid back slowly~ so the profits will be a lot less unfortunetly.

:confused::confused: what borrowed money????????????????????????????????????????????

[uchi]

Range will be selling the rights very soon, and then we will need to borrow to refine etc, that requires equipment, equipment that costs $500mil+.

 

That's how oil companies make their massive profits~ nevertheless our profits $$$$ will be a alot, we will be getting the short straw 30%-70% if we are lucky...after all the loan repayments~

[mahad yare]

uchi;842569 wrote:

Range will be selling the rights soon very imo, and then we will need to borrow to refine etc, that requires equipment, equipment that costs $500mil+.

 

That's how oil companies make their massive profits~ nevertheless the margins money is a alot, we will be getting 30%-70% if we are lucky after all the loan repayments~

i think we can afford to do all that plus billions of profit from one of the shabeele site. :cool:

[GaraadMon]

Oil refinery costs are in the multi billion range, some even in double digits. Puntland should instead focus on other infrastructure projects, so the other sectors of the economy can pick up, unless you want to become one hit wonders like Yemen or Nigeria.

 

The last thing Somalis should do be doing is looking at the emirates/Saudi Arabia as an example that should be followed. Iran is the only oil rich country in the region that barring a war will still have a dominant economy in the next few decades.