Royal Dutch Shell CEO Highlights Somalia Holdings

[Siciid1986]

Royal Dutch Shell's (RDSA, RDSA.LN) African exploration interests are currently focused on Tanzania and Zanzibar, CEO Peter Voser said Thursday, though he also mentioned the oil giant has blocks of land available in Somalia.

 

Mr. Voser's Somalia comments are the clearest indication yet the Anglo-Dutch major may exercise exploration rights that are more than 20 years old, signed before the African nation descended into brutal civil war. He addressed the company's interests in Africa with reporters on the sidelines of a luncheon in Boston.

 

"We have our exploration blocks in Tanzania Zanzibar and that has all of our focus at the moment," Mr. Voser said, while declining to address a reporter's question about Mozambique.

 

Meantime, "we have also further blocks further north in Somalia. So we are pursuing our organic exploration strategy," the CEO also said.

 

Shell, along with fellow oil majors BP PLC (BP, BP.LN) and Chevron Corp. (CVX), were granted exploration licenses for Somalia by the then-government of Major General Mohamed Siad Barre, whose regime was toppled in 1991. The companies declared force majeure and quit Somalia as the country descended into lawlessness.

 

Speculation has swirled since the election of a new permanent president last year as to whether big Western oil companies would be encouraged to return, bringing much needed investment. The issue has been complicated by two semi-autonomous regions in northern Somalia, Puntland and Somaliland, which have granted their own licenses to smaller, more prospective explorers, some which overlap with earlier licenses handed out to other firms.

 

Mr. Voser addressed broader themes in his address to the Boston College-hosted event, such as how booming natural gas supplies can help lessen greenhouse gas emissions.

 

http://www.foxbusiness.com/news/2013/03/21/royal-dutch-shell-ceo-highlights-somalia-holdings/

[Che -Guevara]

That's interesting.

[Burn Notice]

Che -Guevara;929199 wrote:

That's interesting.

Indeed

 

Shell would be very keen to get back it's old blocks

[Saalax]

Looks like the blocks are either in Somaliland or Puntland. I don't think the Culosow government and his scrap metal

looters Dembi Jediid will be allowed to try and get their hands on.

[Mintid Farayar]

Saalax,

There are promising blocks all up and down the former Somalia, all the way down to the Kismayo/Kenya border region. In my humble opinion, all Somalis in all regions should hold off on the petrochemical game till a political accomodation is reached between all Somalis, Somali communities learn to live in peace once again, and most importantly strong legal institutions are established to properly monitor whatever proceeds might come from the ground under.

 

Remember every Somali and his grandmother always believed there were great oil reserves underneath and every Somali political actor dreamed that it will be found when he's sitting on the seat in order to start the next Petro-monarchy for his family right here in the Horn. That's all well and good if it's your uncle, but what about when it's not your uncle? If you think the Somali peninsula has a governance problem now, wait till oil or gas is found....

 

We're not ready yet....

[Burn Notice]

O..Shell owned Offshore Nugaal blocks and I believe they are the ones of most interest

 

After dropping 5billion trying to drill Alaska I have been told they will be focusing on what they do best...and that is Deepwater drilling

[Carafaat]

Isnt Eyl located at Nugaal coast?

[Mintid Farayar]

Carafaat;929634 wrote:

Isnt Eyl located at Nugaal coast?

That little village probably has the highest 'GDP per capita' in the world, if you know what I mean

[Carafaat]

I hope these oil companies stay away from the region for a while, till things are sorted and Somalis reach a permanent political settlements throughout the region. Any attempt to start exploration now in the Somali region of Ethiopia, Somaliland or Somalia could become an exercise in futility.

 

Remember the Chinese oil workers and many Ethiopians who got killed in an attack on a Chinese oil facility in the Somali region of Ethiopia? http://www.chinadaily.com.cn/china/2007-04/24/content_858956.htm

[Somalia]

Wallahi wii isku buuqeen Your comments will have a lot of influence on the dealings of a supermajor oil company.

[Burn Notice]

The same ninnies said Puntland could not be drilled

 

Some clowns cannot see the forrest for the trees

 

Life must be hard for the mrs living with such sour pussies

[Carafaat]

Oodweyne;929705 wrote:

^^

:D

 

At least these Mrs are not going to be grieving with a sheer collective dissatisfaction, since all the hype and hoopla towards these oil drilling exercise in pirateland has only brought about a needed salty water to the surface but no oil.

 

Hence if I were you, dear ninny, I would take good care not to advertise a tall fiction of the kind you are peddling in here since your last one has yet to be explained away, as it were.

:D

Some folks do know how to advertise and sell fiction. But when reality catches up, their rather sticks their head in the sand hoping folks ask questions and Dont Notice the failures they sold. I think we should change Burnt Notice in Dont Notice.

[Suldaanka]

Shell was allocated M-10 and M-9 blocks which fall on the coastline of Sanaag and Bari regions.

 

If they want to come back to Sanaag, they will have to renegotiate with the new boss in town. Otherwise they can build their castle up in the clouds.

 

[Saalax]

Very well Suldaanka. Minted Farayar I was right after all the shell blocks are located in Somaliland and Puntland, with

shell M10 being the homeland of AfricaOwn.

[Burn Notice]

Lol@ carafart ...you guys crack me up

 

I heard they were making a sequel to the movie Dumb & Dumber...you O are a shoe in

 

Thanks for the laughs

 

Range beat down the road less traveled and will be duly rewarded as the majors like Genel, Shell and BP follow

 

Keep dreaming of recognition lol

 

Foreign investment is a reality ..your dreams for the nor west are pure fantasy

 

Schools out...seems the lunatics have taken over the asylum in here

 

L8r