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Turkey plans first overseas deepwater energy exploration in Somali waters
January 2nd, 2026 - 05:09 GMT
Osama Ali

Osama Ali

Turkey plans first overseas deepwater energy exploration in Somali waters

ALBAWABA - Turkey is set to embark on its inaugural overseas deepwater energy exploration, with a drilling vessel slated for deployment in Somali waters next month, as revealed by Turkish Energy Minister Alparslan Bayraktar. Bayraktar announced that the drilling ship Cagri Bey will head to Somalia in February to commence offshore exploration. The operation will concentrate on maritime zones along the Somali coast, though specifics regarding potential reserves or the ...
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Built 146 years ago, the Suez Canal is one of the world's most heavily used shipping lanes. (AFP/File)
July 21st, 2016 - 04:00 GMT

Egypt’s Suez Canal Authority forecasts significant boost in revenue for fiscal year 2016/2017

Salalah Air has planned to ramp up its fleet size to 22 aircraft over the next five years. (File photo)
July 20th, 2016 - 12:00 GMT

Salalah Air: Oman's newest airline gets ready for takeoff

Big family conglomerates in Saudi Arabia are also under pressure from authorities to invest more in the economy now that oil prices are low. (File photo)
July 20th, 2016 - 11:00 GMT

OPINION: Saudi Binladin Group gets thrown another lifeline, but it's the end of an era

Barclays is divesting its Africa unit as part of a plan to simplify its structure and seek higher shareholder returns. (AFP/Carl Court)
July 20th, 2016 - 10:00 GMT

Emirates NBD, MENA banks eye Barclays Egypt sale

In addition to arm sales to the UAE, the US has separately approved the sale of 246 missiles and other equipment to Japan worth $821 million.  (AFP/File)
July 20th, 2016 - 09:00 GMT

US approves $785M sale of bombs to UAE for fight against Daesh

Online courses have a big impact on businesses because they are so much cheaper. (Shutterstock)
July 20th, 2016 - 08:30 GMT

Demand for online professional training courses in MENA outstrips supply: GulfTalent

The smart city will be completely sustainable and provide about 200 megawatts of electricity using photovoltaic roofs on homes and other premises.  (Photo courtesy of Gulf Business)
July 20th, 2016 - 07:30 GMT

Petal power: Dubai to build eco-friendly Desert Rose City

The B/Attitude Spa in Dubai. (Buddha Bar)
July 20th, 2016 - 06:30 GMT

UAE leads MENA's $3B spa market growth

The Central Bank of Jordan said that banks can invest up to 10 percent of their capital. (File photo)
July 20th, 2016 - 05:30 GMT

Jordan's banks buy into national investment fund


The project is divided into several phases and Empower will produce 30,000 RT by the fourth quarter of this year. (Nooz.com)
July 20th, 2016 - 04:44 GMT

Just chill: Nakheel awards $490M contract to Empower for Dubai cooling plants

Egypt’s President Abdel-Fattah El-Sisi, far left, with African heads of state at the AU summit in Kigali, Rwanda. (AFP/Cyril Ndegeya)
July 19th, 2016 - 12:00 GMT

Nile dam talks advance at African Union Summit, but not as quickly as construction

The group has been beset by financial and legal difficulties due to the crane accident, government cuts and a fall in oil prices. (File photo)
July 19th, 2016 - 11:00 GMT

Binladin Group requests extension on $217.8M loan repayment

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