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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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Allegations about the UAE’s suitability to chair KP from the CSC were “strongly refuted and rejected” by the UAE.   (Shutterstock)
May 25th, 2016 - 05:00 GMT

UAE proceeds with Kimberley Process meeting amid controversy over its chairmanship

Iran continues to stress that it has no plans to freeze the level of its oil production and exports. (File photo)
May 25th, 2016 - 04:17 GMT

Oil recovery to $65 a 'fair price' to encourage investment: Qatari minister

The vote drew fire from BDS activists on Jordanian social media networks. (File photo)
May 25th, 2016 - 03:58 GMT

Jordan's parliament votes to allow Israel to buy into Jordanian investment Fund

Bahrain Financial Harbour skyscrapers in Manama. (Shutterstock)
May 24th, 2016 - 12:02 GMT

Bahrain's Mumtalakat plans $400M in international investments

Russia's Sberbank has displayed interest in incorporating a specialized sector for Islam-based banking transactions. (Kiev Post)
May 24th, 2016 - 11:31 GMT

Major Russian banks to pilot Islamic banking principles

The opening of the Iranian TV market, a largely untapped market for pay TV business, is providing a wealth of opportunities for the regional operators. (Shutterstock)
May 24th, 2016 - 10:00 GMT

Glued to our screens: MENA's pay tv market earnings surge, subscribers expected to double

The country’s ceding to the union’s demands will be a blow to plans to include up to 20,000 oil workers under its new public payroll system as low oil prices hit coffers. (AFP/File)
May 24th, 2016 - 09:00 GMT

Kuwait caves in to striking oil workers' salary demands

The report did not disclose the names of the individuals or groups whose bank accounts were frozen, their nationalities, or amounts. (Shutterstock)
May 24th, 2016 - 08:02 GMT

Giving the game away: Lebanon lifts banking secrecy on 28 accounts

Israel restricts the entry of goods into Gaza out of fears they will be used to build tunnels, but Gazans desperately need cement for reconstruction. (AFP/Said Khatib)
May 24th, 2016 - 07:16 GMT

Israel revokes ban on cement deliveries to Gaza

Earlier this month Shuaa Capital announced a first-quarter net loss of Dhs 27.5 million. (Shuaa)
May 24th, 2016 - 07:05 GMT

Dubai's Shuaa Capital to lay off 15 per cent of workforce

Qatar is spending up to $200B on infrastructure required to host the tournament.(Yaeni)
May 24th, 2016 - 05:00 GMT

Qatar World Cup 2022: Nearly $20B in sport investments on offer

A total of $115 million has been allocated to complete the Jordan Gate project, of which 72 per cent is already finished. (Wikimedia Commons)
May 23rd, 2016 - 12:00 GMT

Construction on Amman's Jordan Gate towers to resume after eight-year halt

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