Word: somalia
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...have wanted to pay the cost of searching for oil or gas in the region, or risk drilling wells in volatile countries such as Uganda, Mozambique or Somalia. But better technology, lower risk in some of the countries and higher oil prices in recent years have changed the equation. Wildcatters and majors such as Italy's Eni, Petronas of Malaysia and China National Offshore Oil Corporation (CNOOC) have all moved on East Africa in the past few years...
...Much of East Africa's hopes are focused on a fault line running from Somalia to Madagascar known as the Davie Fracture Zone. It's there that Bertagne's analysis - using Cold War-era sea-floor mapping originally intended for use by Soviet submarines - has prompted speculation about oil deposits rivaling those of the North Sea or Middle East. There's still a lot that's unknown: North Africa has seen 20,000 wells sunk over the past few decades, while drillers have sunk 14,000 wells in and off West Africa. In East Africa, the total is about...
...doesn't help that the region is so geologically complex - with lots of fractures and offshore oil deposits likely deep underground. Or that many of the countries likely to have deposits have seen wars and unrest. Somalia remains a no-go zone, and Ethiopia's eastern Ogaden region is beset by a violent rebel insurgency. And while Mozambique's civil war may have ended in 1992, it has taken years for the country to fully recover. (See pictures of Somalia's pirates...
...Explorers salivate in particular at the prospect of peace in Somalia. Oil reserves in the blocks licensed to two small oil companies, Africa Oil and Range Resources, could contain as much as 10 billion bbl. Nobody is talking about producing oil in Somalia anytime soon, but analysts say oil companies are less likely to be intimidated by political risk than they were in the past. They point to oil production in south Sudan, where a 20-year civil war that ended in 2005 threatens to reignite. "Definitely, there is a sense that there are discoveries to be had," says...
...household goods. China has also established a network of "Confucius Institutes" in various African cities to disseminate Chinese culture, while more and more African exchange students are attending Chinese universities. A flotilla of Chinese warships is part of an international operation attempting to curb piracy off the shores of Somalia. "This discussion of Zheng He is being carried out in China at a higher and more expensive level not just to boost the glory of his personal story," says Barry Sautman, a specialist on China-Africa relations at Hong Kong University of Science and Technology, "but as a particular...