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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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One of the biggest obstacles to feminising the private and public sectors is providing a suitable work environment. (Shutterstock)
May 17th, 2016 - 10:19 GMT

Saudi Labor Ministry scheme to create 50,000 outsourced jobs for women

A $300,000 investment gets you permanent residency after two months and then a Cypriot passport after three and a half years.  (Twitter)
May 17th, 2016 - 10:04 GMT

Wealthy Lebanese invest their way to citizenship

With more stores open and demand weak, average sales per outlet are lower than in 2009. (File photo)
May 17th, 2016 - 09:48 GMT

Luxury retailers face more competition, less demand in the UAE

The new changes represent the biggest overhaul of the sovereign wealth fund since 2014. (File photo)
May 17th, 2016 - 09:26 GMT

Qatar’s sovereign wealth fund restructures, creates $100B unit

Although low oil prices are having a varying impact on Mena countries economically, they are having little impact on M&A strategy. (Shutterstock)
May 17th, 2016 - 05:05 GMT

Gulf diversification drive to boost telecom, media and technology M&A activity

Al Bawaba
May 16th, 2016 - 12:00 GMT

Doha Bank teases plans for Iran entry

Kuwait’s Deputy Foreign Minister Khaled Jarallah said Saturday the market could not support a production increase from Iran, adding oil exporting countries must freeze output. (File photo)
May 16th, 2016 - 11:03 GMT

Kuwait calls on Iran to join oil production freeze plan

ADNOC is reported to be cutting some 5,000 jobs by the end of this year with 2,000 already carried out.  (ADNOC Groups)
May 16th, 2016 - 09:00 GMT

ADNOC layoffs: 5000 job cuts 'long overdue'

Given the current budget deficit, the government is expected to continue with a number of reform measures, bearing political risks, so as to reduce expenses according to S&P.  (File photo)
May 16th, 2016 - 08:00 GMT

No respite in sight for Egypt's currency crisis: S&P

Jakarta's Istiqlal mosque, the largest mosque in Southeast Asia. (Wikipedia)
May 16th, 2016 - 07:00 GMT

Islamic Development Bank Group to review $1.83B of international financing at Jakarta summit

Previously known as the Command and Control Center, the new facility will have 18,000 cameras which will be linked to smart applications in future. (File photo)
May 16th, 2016 - 06:00 GMT

Eyes in the sky: Mecca's mega security command center takes shape

The statement quoted Abu Hashima as saying that the channel's acquisition "comes in recognition of the role played by the Egyptian media." (Pinterest)
May 16th, 2016 - 05:00 GMT

Egypt: Naguib Sawiris' ONTV acquired by Abu Hashima's Egyptians' Media Company

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