Abstract
Subject Somalia's oil ambitions. Significance In February, the Federal Government of Somalia (FGS) launched a licensing round for 15 offshore energy blocks at a conference in London. Somalia’s oil potential is significant -- some estimates suggest around 100 billion barrels of oil waiting to be discovered -- but serious institutional hurdles stand in the way. Impacts Trust between the FGS and regional administrations will erode further if the FGS continues unilaterally to market energy blocks. Signs that security may be worsening rather than improving may curb investor curiosity. Kenya’s recent steps to revamp the regulatory environment and formalise revenue-sharing make it a more attractive investment prospect.
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