The Cabinet of Somalia has approved a Memorandum of Understanding (MoU) on oil and gas cooperation between the governments of Somalia and Azerbaijan, marking a significant step in strengthening energy sector ties.
The agreement, which aims to enhance “collaboration in the exploration and development of oil and gas resources” , is expected to boost Somalia’s energy industry and attract foreign investment. The partnership comes as Somalia continues its efforts to establish a sustainable and regulated oil and gas sector.
In addition to the MoU, the Cabinet also approved the Charter of the Organization of Islamic Cooperation’s (OIC) Labor Center. The OIC Labor Center focuses on promoting labor rights, employment policies, and economic cooperation among its member states.
The Somali government has been actively engaging with international partners to drive economic development, with oil and gas seen as a key pillar in Somalia’s long-term economic strategy.
