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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 deal includes 80 train carriages to be given to the Egyptian National Railways as a “gift” worth a 100 million euro-grant from Hungary. (Shutterstock)
June 2nd, 2016 - 08:00 GMT

Egypt: Hungary to fund 700 train carriages in $1B deal

Slated to be operational in 2020, the plant will create 2,000 jobs in the kingdom. (Shutterstock)
June 2nd, 2016 - 07:00 GMT

Saudi Arabia: Aramco partners with GE and Italy's Cividale for $400M manufacturing plant

Egypt’s tourism industry, a vital source of foreign currency, has been hit hard following a series of crises in recent months. (File photo)
June 2nd, 2016 - 05:00 GMT

Egypt to support Sinai families hit by tourism decline

The Dh2.1billion project comprises four lanes in both directions. (Shutterstock)
June 2nd, 2016 - 04:31 GMT

New Abu Dhabi-Dubai highway to open by end of 2016

Oman is expected to post an OMR 3.3bn ($8.6bn) budget deficit this year due to lower oil revenues. (Scenoplus)
June 1st, 2016 - 11:00 GMT

Oman’s corporate tax hike hopes to boost coffers by $650M

A number of smaller producers had become overly dependent on oil as a source of revenue, when prices were high, and did not make efforts to diversify their economies.  (Twitter)
June 1st, 2016 - 10:00 GMT

Smaller oil producers expected to follow the leader at OPEC meet

The GCC is one of the fastest growing markets in terms of visitors’ numbers and spending, and Britain is firmly placed among the top three European destinations for tourism. (Shutterstock/Cedric Weber)
June 1st, 2016 - 09:00 GMT

Barmy for Blighty: Record number of Gulf tourists visited UK in 2015

The Lebanese-Israeli maritime dispute should not derail Lebanon's oil exploration efforts in the Mediterranean.  (Shutterstock)
June 1st, 2016 - 08:00 GMT

Lebanon must push forward with oil and gas exploration

Gulf leaders arrived in Jeddah on Tuesday to attend the GCC’s 16th Consultative Meeting. (Arab News/Fouzia Khan)
June 1st, 2016 - 07:00 GMT

GCC leaders establish two new bodies to boost economic integration

Despite substantial international pressure to reform the treatment of migrant construction workers, reports continue to find workers facing conditions that may amount to those of slavery. (AFP/File)
June 1st, 2016 - 06:00 GMT

Dubious honor: Qatar places fifth on the Global Slavery Index

Etihad is planning to carry 19 million passengers this year, an increase on the 17.6 million in carried in 2015. (File photo)
June 1st, 2016 - 05:05 GMT

Etihad Airways freezes recruitment of non-operational staff

The anti-BDS movement has claimed several legal victories on university campuses across the US. (Facebook)
June 1st, 2016 - 04:18 GMT

Israel holds anti-BDS summit at the UN

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