Somalia is entering a significant phase in its hydrocarbon development, with its first deepwater offshore drilling campaign underway. Turkey’s state-owned drilling vessel Çağrı Bey began drilling the Curad-1 well in April 2026, approximately 370 km off the coast of Mogadishu. The well has a planned target depth of 7,500m, with results expected to help establish the commercial potential of Somalia’s largely unexplored offshore resources.

The drilling campaign follows offshore seismic surveys that Minister Mohamed said had generated interest among international companies, including U.S. investors. However, commercial production will depend on exploration results, subsequent appraisal and substantial investment in development infrastructure. The government’s immediate priority is translating geological potential into commercially viable projects capable of attracting long-term capital.

Beyond petroleum, Mohamed is advancing reforms intended to formalize Somalia’s mining industry and strengthen investor confidence. In September 2026, the Somali Senate approved a comprehensive Mining Bill addressing environmental protections, community compensation and procurement frameworks. The legislation replaces the outdated 1984 mining code and establishes a foundation for more structured mineral exploration and development.

International partnerships are also central to Somalia’s critical minerals strategy. In March 2026, Minister Mohamed and Deputy Prime Minister Salah Ahmed Jama signed an MoU with West Virginia to support the development of minerals used in advanced manufacturing, electronics and green technologies. The agreement aims to strengthen technical cooperation and create opportunities for investment.

Fiscal governance remains another priority as Somalia prepares for potential resource revenues. The International Monetary Fund has identified gaps between legacy petroleum contracts and newer legislation, highlighting the importance of consistent production-sharing agreements and effective revenue oversight. Minister Mohamed has also directed efforts to combat illegal mining and strengthen institutional coordination through the Somali Petroleum Authority.

At LEES 2027, Mohamed will join government representatives, investors and industry executives examining opportunities across Africa’s energy sector. The summit comes as host country Libya pursues its target of reaching 2 million barrels per day in oil production by 2030. Supported by Diamond Sponsors OMV, TotalEnergies, bp and Repsol, the January 23–25 gathering will provide a platform to discuss investment, resource development and partnerships across emerging markets.

For more information about LEES 2027, visit www.libyasummit.com, and to secure your participation as a sponsor or participate as a delegate, contact sales@energycapitalpower.com.