By Mohamed Abdi - Reporter
Mogadishu, 22 August 2026 Somalia is preparing an open and competitive bidding round for companies seeking to invest in its petroleum sector as oil exploration enters a final stage.
Somali Petroleum Authority Chairman Abdulqadir Aden said Thursday that companies interested in operating in Somalia will compete for blocks under a transparent process.
“Companies seeking to operate in Somalia’s petroleum sector will enter an open competitive process,” Aden said at a training program on petroleum investment for officials from the Ministry of Finance, Ministry of Petroleum and the Somali Petroleum Authority.
He said authorities expect key results in the coming months on the country’s oil prospects.
“We hope that in the coming months we will see Somalia’s oil. We hope this will attract investors,” he added.
The program focused on competitive procedures and transparency in petroleum investment and was supported by Canada.
Related articles
Aden said confirmation of commercially viable oil could increase international interest, adding that Somalia’s investment climate had improved due to progress in security, politics and maritime transport.
Ministry of Petroleum Director General Mohamed Hashi Arabey said Somalia has nearly 300 petroleum blocks offshore and onshore that will be marketed to investors.
“Somalia has close to 300 blocks located offshore and others onshore, all of which are intended to be marketed,” Arabey said.
Somalia hopes to reach a major exploration milestone by October, if current plans proceed as scheduled.