The Somali Oil Minister signs a cooperation agreement with Azerbaijan

The Somali Oil Minister signs a cooperation agreement with Azerbaijan

 The Somali Minister of Oil and Minerals, Mr. Tahir Shiri Mohamed, signed a cooperation agreement with the Azerbaijani Minister of Energy, Mr. Parviz Shahbazov. The agreement focuses on cooperation in the oil and gas sector, with the aim of benefiting from Azerbaijan’s experience to enhance energy resources and infrastructure in Somalia.

The MoU was signed during a meeting between the two ministers, marking a milestone in bilateral relations and cooperation in the field of energy. In a statement issued by the Somali Ministry of Petroleum and Minerals, Minister Mohamed expressed his enthusiasm for the partnership, saying: “I am pleased to sign a memorandum of understanding with His Excellency Parviz Shahbazov, Minister of Energy of Azerbaijan, to enhance cooperation in the oil and gas sector.”

The agreement emphasizes Somalia's efforts to develop its untapped oil and gas reserves, which have the potential to contribute significantly to the country's economic growth and energy independence.

Azerbaijan, a country with extensive experience in oil and gas exploration and production, is expected to provide technical expertise, knowledge exchange and support to Somalia as it works to create a strong energy sector. Minister Tahir Shari highlighted the importance of the partnership, noting that it represents a strategic step to attract international investment and build capabilities within the energy industry in Somalia.

The Minister stressed that cooperation with Azerbaijan will play a major role in unleashing the potential of Somalia's natural resources and creating opportunities for economic development. Azerbaijani Energy Minister Parviz Shahbazov also expressed his commitment to supporting Somalia's energy ambitions, and praised the agreement as a basis for long-term cooperation between the two countries, especially in the areas of oil and gas exploration and production and infrastructure development.

The signing of the memorandum of understanding comes at a time when Somalia is actively seeking to diversify its economy and reduce its dependence on traditional sectors. Developing the oil and gas industry is seen as a key component of the country's broader economic strategy, with the potential to create jobs, generate revenues and attract foreign investment.

This agreement represents a new chapter in relations between Somalia and Azerbaijan and highlights the growing international interest in Somalia’s energy sector. As Somalia continues to rebuild and develop its infrastructure, partnerships such as these are expected to play a vital role in driving progress and prosperity for the nation.