AM Investments are here to develop one of the world's largest untapped offshore hydrocarbon provinces. With an estimated 30 to 40 billion barrels of oil and gas equivalent, the Curad-1 well and surrounding blocks represent a transformative opportunity for the region.
The Curad-1 well, located approximately 372 kilometres northeast of Mogadishu in the Mogadishu Basin, represents Somalia's first-ever offshore oil drilling operation and one of the deepest exploration wells ever attempted.
The project encompasses three offshore exploration blocks—142, 152, and 153—each spanning approximately 5,000 square kilometres. The operation is being executed by Türkiye's state-owned Turkish Petroleum Corporation (TPAO) using the deep-water drilling vessel Çagir Bey, escorted by Turkish naval warships.
Geological Context: The Mogadishu Basin and surrounding structures were formed during the Mesozoic rifting of the Gondwana supercontinent. Hydrocarbon-bearing formations are believed to exist in both Jurassic and Cretaceous strata, with multiple potential source rocks, reservoirs, and trapping configurations. Only eight wells have been drilled historically in Somali waters—just two in the Somali Basin— and none have produced a commercial discovery, leaving this province largely untested.
The development includes offshore platforms, subsea pipelines, floating production storage and offloading (FPSO) vessels, and onshore processing facilities. The project is designed to support production of up to 500,000 barrels per day by 2028.
The Curad-1 well is being drilled using TPAO's state-of-the-art drillship, capable of reaching depths of 7,500 metres in 3,500 metres of water. This makes it one of the most technically ambitious offshore drilling projects in the world.
The offshore hub will serve as a focal point for energy production, processing, and export across the Horn of Africa. It will include:
The project requires substantial upfront investment, with an estimated total of $2.5 billion for exploration and development. Drilling a single offshore well can easily exceed $100 million.
| Phase | Estimated Cost (USD) | Description |
|---|---|---|
| Seismic & Exploration | $500M – $800M | 3D seismic surveys, geological studies, exploration drilling |
| Platform & Infrastructure | $800M – $1.2B | Offshore platforms, FPSO vessels, subsea pipelines |
| Onshore Facilities | $300M – $500M | Processing plants, storage terminals, logistics hubs |
| Security & Logistics | $200M – $300M | Naval protection, perimeter security, supply chain |
| Total Estimated Investment | $1.8B – $2.8B | Full development cycle |
* Under the Turkey-Somalia agreement, TPAO may recover up to 90% of production revenue to offset exploration and operational costs in the early stages.
Production is projected to scale from initial discoveries to full commercial output, generating substantial revenue for Somalia and its partners.
Projected Revenue by 2045: At current oil prices (~$80/bbl), full production of 1M b/d would generate $29 billion annually in gross revenue. With a 5% royalty and cost recovery structure, Somalia could capture $1.5–$2 billion in annual government revenue once costs are recovered, with profit-sharing escalating over time.
The project is secured through a tripartite security arrangement between the Turkish Navy, the Somali Navy, and AM Energy's private security forces.
The drilling vessel and all associated infrastructure are escorted and protected by Turkish naval warships. The Somali Navy provides coastal patrol and territorial water security, while AM Energy coordinates integrated intelligence and perimeter defense.
Turkish Navy
Somali Navy
Republic of Türkiye
Federal Government of Somalia
Partner with AM Energy, the Government of Somalia, and the Republic of Türkiye to develop one of the world's last great frontier oil provinces.
Be part of the transformation that will power the Horn of Africa and reshape the global energy map.
Contact AM Investment