Genel decides risk is worth it searching for oil in Somaliland

Genel decides risk is worth it searching for oil in Somaliland

Tony Hayward, chief executive of Genel Energy, is sanguine about the risk
Richard Pohle
Tony Hayward, chief executive of Genel Energy, is sanguine about the riskRichard Pohle
Tim Webb
Last updated at 12:01AM, July 22 2013



Finding oil could be the least of Genel Energy’s problems. If the explorer fronted by Tony Hayward finds as much of the black stuff as it expects to, it may find itself in the middle of several territorial disputes in one of the world’s most volatile regions.

Next year Genel will drill its first wells in Somaliland, the breakaway East African territory that declared independence from Somalia more than 20 years ago after a bloody civil war.




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