Overview
- TPAO began drilling the Curad‑1 exploration well in Block 153 and is actively drilling an ultra‑deep target in about 3,500 metres of water as of July 16, 2026.
- The well is planned to reach roughly 7,500 metres total depth and could take as long as 288 days to complete, making it one of the deepest offshore exploration campaigns attempted.
- Industry estimates cited in coverage place very large un‑risked prospective oil volumes in the Somali Basin, but only eight historical offshore wells have been drilled in Somalia and none have produced commercial oil.
- Somalia and Turkey negotiated fiscal and commercial terms to attract TPAO, including Somalia’s 2023 model PSA with a flat 5% royalty and a reported Turkey–Somalia deal that allows high cost recovery for TPAO to lower exploration risk.
- If Curad‑1 proves commercial, development would likely use floating production and face high breakeven and infrastructure hurdles, with major second‑order effects for regional shipping routes, refinery supply options in Asia and local governance over resource revenues.