Taiwanese oil firm to drill Somaliland’s first oil-well in mid 2024

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In the middle of the year 2024, the CPC oil company in Taiwan will drill the first oil well in Somaliland, and Berbera port will be used to transfer oil resources for export to international markets.

The delegation from Somaliland that was on business in Taiwan met with the leaders of the Taiwanese oil company CPC Cooperation.

The leaders of the CPC company gave information to the Somaliland delegation about the oil drilling activities of the CPC Cooperation company in the Republic of Somaliland.

It has started investing in the country.

The Somaliland delegation led by the Minister of Trade Development of Somaliland Hon. Mohamud Hassan Saad, includes the Director General of the Ministry of Trade and Tourism Mr. Abdirashid Ibrahim, the Deputy Manager of the Somaliland Tax Free Zone Agency Abdikarim Ibrahim, the Ambassador of Somaliland to Taiwan Mohamed HaJi and businessmen representing the two countries.

The move taken by the delegation of the Republic of Somaliland in Taiwan is the practical achievements they have realized in the short period of their work in the country.

Meanwhile the Somaliland delegation held an important meeting with the President of Taiwan, who is the chairman of the Foreign Trade Development Council of Taiwan.

The minister and his team presented many business prospects in cooperation with renowned Taiwanese companies. As a business promotion forum, TAITRA facilitates the creation of meaningful relationships between Taiwanese and Somaliland companies, to foster mutually beneficial outcomes.

Speaking on the issues, the minister said, “I appreciate the positive role of TAITRA in developing the current business relationship between our two countries. The core activities of this organization include market research and information services, market development, exhibition and conference services, business education, and web services.

 

They also visited the country’s largest port and the Farglory Business Zone.

The purpose of the visit was to enable these institutions to cooperate with their counterparts in Somaliland.

During their tour, they observed the functioning of the main port in Taiwan, appreciating the tangible the progress made by the port.

The authorities of the port of Taiwan greatly welcomed the delegation and promised to work with Somaliland in the areas of economic and infrastructural development.

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