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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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Al Bawaba
May 31st, 2016 - 12:00 GMT

Proposed causeway would cut Saudi-Egypt travel time to 30 minutes

Sunrise on Point Cartwright, Sunshine Coast, Queensland, Australia. (Shutterstock)
May 31st, 2016 - 10:00 GMT

Dubai's Najibi opens Sanad Capital on Oz's Sunshine Coast

Lebanon’s budget deficit in the first four months of this year rose to 37.2 percent of spending compared to 33.75 percent in the same period last year.  (File photo)
May 31st, 2016 - 09:00 GMT

Lebanon's primary budget deficit increases 190 percent

Unemployment in Jordan has reached its highest level since 2008. (AFP/File)
May 31st, 2016 - 08:00 GMT

Unemployment is 'biggest challenge' for Jordan's new government

The Oman Power and Water Procurement Co (OPWP) recently signed agreements to establish two major independent power plants in Ibri and Sohar. (File photo)
May 31st, 2016 - 07:00 GMT

Oman needs $8B investment to keep pace with power demand: Apicorp

Fitch expects general government debt to grow to 90.5 percent of GDP in FY17, on the assumption that the pound will continue to weaken. (File photo)
May 31st, 2016 - 06:00 GMT

Fitch maintains 'B' ratings for Egypt

Last week, oil prices rose above $50 a barrel for the first time this year following supply disruptions in Canada and Nigeria and a decline in crude inventories in the United States. (Shutterstock)
May 31st, 2016 - 05:00 GMT

Oil may hit $60 by summer: UAE economy minister

The new sukuk issue followed DP World's successful refinancing of over $1.1 billion of the existing $1.5 billion 2017 sukuk.  (Port Technologies)
May 31st, 2016 - 04:02 GMT

DP World raises $1.2B in oversubscribed sukuk

BSA estimated the software piracy rate in Lebanon at 70 percent in 2015 compared to 71 percent in 2013 and 2011 and 72 percent in 2009. (Flickr)
May 30th, 2016 - 11:49 GMT

Lebanon's software piracy rate as high as China's: US report

The ministry seeks to produce 20 percent of new and renewable energy of the total national electricity grid by 2020. (File photo)
May 30th, 2016 - 10:59 GMT

Egypt partners with GDF Suez, Toyota and Orascom for wind power plant

Construction of pipeline infrastructure, the development of the gas fields and the pipeline to the Southern Turkish would cost about $4 billion alone. (File photo)
May 30th, 2016 - 10:00 GMT

Israel mulls European gas exports via Turkey

The LuLu group chairman announced that they have already invested SR1 billion in Saudi Arabia and intend to further invest SR800 million in the next two years. (YouTube)
May 30th, 2016 - 09:00 GMT

LuLu Group plans 12 more stores in Saudi Arabia by 2018

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