Somalia’s state news agency SONNA on Friday reported that Royal Dutch Shell and Exxon Mobil have paid $1.7 million to Somalia Government to lease offshore blocks for 30 years.
“Shell/Exxon Mobil have paid $1.7 million to Somalia as the preliminary rent for 30 years,” SONNA reported.
Shell and Exxon Mobil had a joint venture on five offshore blocks in Somalia prior to the toppling of dictator Mohamed Siad Barre in the early 1990s.
The country has been in conflict since Barre left and is battling Islamist group al Shabaab that frequently carries out bombings in the capital Mogadishu and others parts of the country.
In June, the oil ministry announced that the two companies were looking to return to Somalia ahead of an oil block bid round later this year.
