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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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The Omagine Project will have seven pearl shaped buildings, each with a different theme.  (Omantourism.gov.com)
July 14th, 2016 - 12:00 GMT

Oman's $2.5B Omagine Project targets 2024 completion

The secretary general of the UAB expects the British pound devaluation and resulting inflation following the Brexit vote to have negative implications for Arab remittances.  (Infowoman.gr)
July 14th, 2016 - 11:00 GMT

Brexit could negatively impact $560M of Arab expat remittances from UK

Singapore's Raffles Hotel, the flagship of FRHI Hotels & Resorts. (Wikipedia)
July 14th, 2016 - 10:00 GMT

AccorHotels eyes MidEast luxury market after FRHI acquisition

The reservoir of King Talal Dam is the largest reservoir in Jordan, storing freshwater and treated wastewater for irrigation in the Jordan Valley. (Wikipedia)
July 14th, 2016 - 09:00 GMT

Jordan launches $13M project to combat effects of climate change

Strata is an advanced composite aero-structures manufacturing company and a unit of Mubadala. (Wikimedia Commons)
July 14th, 2016 - 08:00 GMT

Mubadala's Strata Manufacturing lands billion-dollar Airbus contracts

Saudi Arabia will allow imports of beef and beef products from US cattle less than 30 months of age, with the policy expanded after a phase-in period. (Shutterstock)
July 14th, 2016 - 07:00 GMT

US beef with Saudi Arabia: Imports to resume after 2011 ban

Egyptair's Boeing 737-800. (Wikimedia Commons)
July 14th, 2016 - 06:00 GMT

EgyptAir orders nine Boeing aircraft worth $864M

Kuwait is looking into offering 20 to 30 percent of the four subsidiaries’ stocks for public subscription, keeping the majority of stock in government lock. (Shutterstock)
July 14th, 2016 - 04:54 GMT

Kuwait mulls partial privatization of its oil industry

In the absence of reliable market data, developers are continuing to build despite a seemingly saturated market. (Promofair/Dream 2016)
July 13th, 2016 - 12:00 GMT

Lebanese real estate developers shrug off market downturn with new projects

In January, Gulf Air announced orders for 45 aircraft in total with deliveries commencing from Q2 2018. (AFP/File)
July 13th, 2016 - 11:00 GMT

Bahrain's Gulf Air awards $900M contract to Rolls-Royce for Dreamliner engines

In September 2015, 107 people were killed and more than 200 injured when a crane belonging to the Saudi Binladin Group collapsed onto the Grand Mosque in Mecca. (AFP/File)
July 13th, 2016 - 10:00 GMT

Date of Mecca crane collapse trial to be announced shortly

Because of Brexit, GCC banks which are looking for alternative sources of funding to compensate lower government deposits are unlikely to receive new external funding from the UK. (Shutterstock)
July 13th, 2016 - 09:00 GMT

Brexit impact on GCC sovereigns will be minimal: Moody's

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