Ministry of Petroleum & Mineral Resources of Somalia

The Ministry of Petroleum & Mineral Resources was established with the aim of developing Somalia’s Petroleum and Mineral Resources sector for the benefit of its people. Somalia is a nation rich in hydrocarbons and minerals, and the Ministry works to maximize the opportunities for growth, investment, and prosperity that accompany the exploitation of these natural resources. Our commitment to transparency, as well as a sensitivity to the needs and desires of the Somali people, guide the work the Ministry does. Central to our plan is the consolidation of an economic environment which welcomes investors and encourages all Somalis to participate in our expanding energy sector. We are proud of the passing of the amended Petroleum Act and the Petroleum Management Revenue Sharing Agreement, which guarantee the proprietorial rights of every Somali citizen to benefit from any hydrocarbons discovered, and equitably distributes the wealth generated by hydrocarbons to all Member States, and local communities. In fact, the Revenue Sharing Agreement is not only a critical milestone for Somalia, but for the world – it is believed to be one of the most generous and equitable deals of this kind to be struck. Not only will Somalia receive investment and wealth, but our young people will have the chance to undertake skilled employment as our country builds the necessary infrastructure. Though exploration for hydrocarbons has not yet been completed, we have drawn on world-leading extractive industry experts to advise us on the potentially huge stores of hydrocarbons in offshore Somalia. Vision A prosperous Somalia whose people benefit from, and contribute to, the prosperity and infrastructure development that hydrocarbon and mineral exploitation can bring. Mission To effectively capitalise upon Somalia’s natural resources and distribute the ensuing benefits fairly and proportionately amongst the Member States and the Somali people.