Liberty Petroleum Secures 3 Deepwater Blocks in Somalia

Image

U.S.-based exploration company Liberty Petroleum signed Production Sharing Agreements (PSA) for three deepwater blocks in Somalia. Through its subsidiary Petro Quest Africa, Liberty Petroleum will explore Blocks 131, 190, and 206.

The PSAs allow for a five-year exploration period and grant Liberty Petroleum approval to conduct evaluations and 3D seismic surveys. The data will determine drilling viability.

“We are aware of the responsibility that now lies on our shoulders to explore and hopefully develop the petroleum resources within these blocks in a manner that delivers maximum benefit to the people of Somalia,” stated Liberty Petroleum CEO Lane Franks.

To date, only two wells have been drilled offshore Somalia, both in shallow waters. The country is estimated to hold as much as 30 billion barrels of oil reserves.

Source: Energy Capital Power

Related Articles

Kenya Halts Somaliland Office Opening in Nairobi, Reaffirms Support for Somalia’s Unity 

However, in a calculated effort to avoid straining bilateral relations with Somalia, Nairobi has opted to step back from the engagement.

  • Somalia

    27-05-2025

  • 01:58PM

Somalia: SoDMA Slammed for Sending COVID-19 Gear Instead of Medical Aid to Frontline Fighters

There has been no immediate response from SoDMA, which has the mandate to handle such situations across the country.

  • Somalia

    26-05-2025

  • 04:38PM