Mogadishu (HOL) – On Wednesday, Somalia’s Cabinet of Ministers approved an oil and gas production agreement. The agreement, signed earlier this month between Somalia and Turkey, was presented to the Cabinet by Abdirisaaq Omar Mohamed, Somalia’s Minister of Petroleum and Minerals. He highlighted its potential to unlock Somalia’s resource wealth and stimulate economic growth.
A statement from the Prime Minister’s Office outlined that a key provision of the ratified agreement involves Turkish support in oil production, exploration, and exploitation efforts in Somalia.
Furthermore, the Cabinet session resulted in the passage of critical amendments to the Anti-Money Laundering and Terrorist Financing Bill, as well as regulations related to public registration and national identity.
