First oil field discovered in Somaliland.
The first oil field has been discovered in the northern region of Somalia, the unrecognised state of Somaliland. The first oil field has been discovered south of Somalia's state capital, Garowe Online.
The oil has been discovered to the south of Hargeisa, the capital of the Somaliland state. The development of the field will be carried out by the British company Genel Energy. The Somaliland Ministry of Energy noted that the possible revenues from the raw material will help the authorities to implement several development projects.
A new oil field was discovered in the Black Sea in December 2022, Turkish President Recep Tayyip Erdogan said. Its reserves are estimated at nearly 60 billion cubic metres.