The Global Hunt For Oil: Canadian Firm Drills First Exploration Well in Somalia

Energy companies are renowned for taking risks as they scour the globe for new opportunities.

That said however, Canada’s Vancouver, BC-based Horn Petroleum Corporation, a unit of Africa Oil Inc., is in a class by itself, having begun drilling operations in Somalia’s semi-autonomous northern Puntland state.

Somalia?

Which has not had an effective government since 1991?

Land of “Black Hawk Down,” pirates, battling militias, al Shabaab militants and U.S. drone strikes against the extremist group?

Yep.

On 17 January the company said in a press release that it is "pleased to announce the spudding (drilling) of the Shabeel-1 well on the Dharoor Block in Puntland, Somalia... operations have also commenced on the Shabeel North-1 well."

Horn Petroleum Corporation’s decision to take the gamble has clearly enthralled Puntland’s politicians - Puntland President Abdirahman Mohamed Farole opened the ceremony to commence drilling the Shabeel 1 well in the Dharoor block in northern Puntland and gushed that the well drilling was "a big day for the people of Puntland and Somalia in general. We will be no longer be begging people for resources after the drilling of the oil wells. Our young educated men and women will not suffer unemployment, everyone including ordinary labourers will have their opportunity. If the operation is successful in finding oil, it is an opportunity for the…