CAPE TOWN (Reuters) - Somalia has agreed an initial roadmap with a Shell/Exxon joint venture to explore and develop potential offshore oil and gas reserves, the Ministry of Petroleum and Mineral Resources said on Monday.

I am delighted we have agreed an initial roadmap with the Shell/Exxon joint venture. This gives us confidence in (the)ability to further explore any offshore hydrocarbon potential, minister Abdirashid Mohamed Ahmed said in a statement.

Last month Somali President Mohamed Abdullahi Farmajo signed petroleum legislation into law to help open up a new frontier market in Africa as the strife-torn country hopes new petroleum finds will help transform its economy.

Seismic data suggests there could be significant oil reserves offshore.

In October Shell and Mobil, which had a joint venture on five offshore blocks in Somalia prior to the toppling of dictator Mohamed Siad Barre in the early 1990s, agreed to pay the government $1.7 million for historic leasing of the blocks.

Exxon Mobil and Shell were not immediately available to comment.

Reporting by Wendell Roelf; editing by David Evans

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Somalia agrees offshore oil exploration roadmap with Shell/Exxon: minister - Reuters