Thursday March 28, 2024
Mogadishu (HOL) – Somalia’s Cabinet of Ministers approved an oil and gas production agreement on Wednesday.
The deal had been signed earlier this month between the governments of Somalia and Turkey. Abdirisaaq Omar Mohamed, Somalia’s Minister of Petroleum and Minerals, presented the agreement to the Cabinet, emphasizing its potential to unlock Somalia’s resource wealth and stimulate economic growth.
According to a statement from the Prime Minister’s Office, a key provision of the ratified agreement includes Turkish support in oil production, exploration, and exploitation efforts in Somalia.
Additionally, the session led to the passage of crucial amendments to the Anti-Money Laundering and Terrorist Financing Bill and the Regulation of Public Registration and National Identity.
