Somali President Hassan Sheikh Mohamud has strongly defended a contentious oil exploration agreement with Turkey that has sparked criticism after details revealed Turkey would initially receive 90% of revenues.
“This marks the first time in history that Somalia is conducting oil exploration,” President Mohamud stated, emphasizing that exploration is currently taking place offshore. “This doesn’t mean Turkey is being given preferential treatment—no foreign country is being prioritized.”
The controversy erupted after the Nordic Press Agency leaked documents showing Turkey would receive 90% of oil extraction revenues, with Somalia receiving just 5%. Opposition politicians quickly condemned the arrangement as exploitative.
In response, the Somali government clarified that the initial revenue split reflects Turkey’s investment in exploration and extraction costs, asserting that Somalia will ultimately gain control of its oil resources once these expenses are recovered.
Mohamud highlighted the special relationship between Somalia and Turkey, noting that Turkey has been the only nation to offer mediation during disputes with neighboring countries.
The agreement represents Somalia’s first major step toward developing its potentially lucrative offshore oil reserves, a move the government portrays as necessary despite the controversial terms.
Source: shabellemedia.com
