On 4 August 2020, the Somali Petroleum Authority announced the opening of the country’s first-ever offshore licensing round. This licensing round features up to seven blocks that are up for the bidding process which are estimated to be among the most promising areas for petroleum exploration and production in Somalia. This licensing round is expected to close on 12 March 2021.

This follows the approval and President Ratification of the Petroleum Law on 8 February 2020 by His Excellency President Mohamed Abdullahi Farmajo.