#Somalia, fearlessly led by President Hassan Sheikh Mohamud, is looking to the future with hope and a very credible plan for stabilisation, attracting further international #investment and raising standards of living across the country. ft.com/content/0b968d…

As illustrated by Hess' Liza development #offshore #Guyana, the carbon intensity and environmental impact of #deepwater offshore drilling is less than that of #onshore. Offshore can also be more cost effective and require fewer wells, but necessitates a larger upfront investment.

Pancontinental Energy has partnered with Woodside Energy to conduct a #seismic survey in the Orange Basin offshore #Namibia, and expects to conclude this survey in June 2023 with a confirmation of #deepwater reservoirs. energycapitalpower.com/pancontinental…

#Hydrocarbons will almost certainly play a role in the #energytransition and sustainable #energy supply into the future due to issues with scaling and storage for other energy sources, as well as an increase in #energydemand as the world economy and population grows further.

#Brazil is increasing investments in #hydrocarbon exploration in order to invest in its own #development and #growth. It is specifically encouraging independent #energy producers, whose actions can generate increased revenue, taxes, jobs and income. offshore-energy.biz/turning-brazil…

According to an article in Offshore Energy, the #energy industry accounts for an estimated generation of around 445,000 jobs a year and circa $180bn in #investments over the next decade. These statistics demonstrate the potential impact of #hydrocarbon exploration and production.

S&P Global Commodity Insights S&P Global Commodity Insights interviewed our CEO Richard Anderson about #Somalia's nascent #energy industry, which the article labels an ‘unmissable opportunity’. Read the full article below ⬇️ spglobal.com/commodityinsig…

#Hydrocarbons can work hand-in-hand with renewable energy to provide secure solutions to domestic #energy supply. For example, electricity produced from hydrocarbon sources can stabilise an energy grid that is also used for intermittent energy sources like wind and solar.

The International Energy Agency forecasts that #energy usage in Africa is set to grow substantially as populations and incomes increase. Accordingly, this would necessitate a similarly large increase in the provision of stable, secure and affordable energy.

In an interview with S&P Global Commodity Insights, ExxonMobil's upstream exploration chief John Ardill referenced #Africa as a "super-important" region for the company and commented on #Somalia, Angola, Tanzania and Mozambique as holding “great potential”. spglobal.com/commodityinsig…

The government of #Guyana has received $1.6bn in oil revenue and as a result has been able to commission infrastructure projects including: 🏥 12 hospitals 🏨 7 hotels ✏️ Multiple schools 🚚 2 main highways 🚢 Guyana's first deep-water port ⚡️ $1.9bn gas-to-energy project

An estimated 70% of the #Somali population is under 30. As a sector with significant scope for expansion, #Somalia's nascent #energy industry and all supporting industries could provide training, employment and career opportunities for this segment of the population.

The World Bank estimates that as of 2020, only 49.7% of #Somalia's population had access to #electricity. One route to addressing this #energy deficit could be through utilising its natural resources and working to expand domestic hydrocarbon production alongside renewables.

In the short time since oil was discovered, #Guyana is now poised to become the fourth largest offshore oil producer in the world, ahead of Qatar, USA, Mexico & Norway. This news demonstrates the potential transformative impact of #hydrocarbon investment and exploration.

"I think the potential is there for multiple tens of billions of barrels, recoverable, or even more over time." – Coastline Exploration's CEO Richard Anderson on the scale of the exploration opportunity #offshore Somalia. spglobal.com/commodityinsig…

Some domestic benefits of #hydrocarbon discovery: 🛢️Resource wealth and #energy security 💰Foreign #investment and government revenue 🌍Export potential and regional cooperation 🏠Increased domestic living standards The growth potential for emerging nations is vast.

Very encouraging to see further and ongoing #investment in Mogadishu, #Somalia’s capital city. youtube.com/watch?v=tNEdPZ…

Other African countries can follow #Angola's lead. With 9bn barrels of oil and 11tn cubic feet of natural gas, Angola's success is no accident. Diversification, infrastructure development and policy improvements make an attractive investment environment. finance.yahoo.com/news/foundatio…

More progress in #Guyana as CGX Energy Inc. and Frontera Energy Corporation’s joint-venture has made a major oil discovery approximately 200km offshore from Georgetown, Guyana. Another step forward for one of the world’s fastest growing #energy economies. worldoil.com/news/2023/6/28…

Ensuring #energysecurity is crucial for development. Over 600m energy-poor Africans lack electricity access, whilst fragile power systems and load-shedding hinder progress. A bright future is possible if developing domestic energy supplies is prioritised. habitat.org/emea/about/wha…