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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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Once commercially operational in early 2019 the plants will supply approximately 30% of electricity demand in the Sultanate of Oman. (Shutterstock)
May 16th, 2016 - 04:10 GMT

ACWA Power, Mitsui consortium awarded Oman's largest power plant project

A number of EgyptAir pilots had announced on Wednesday that they were on strike to demand higher pay and improved working conditions. (Wikimedia Commons)
May 15th, 2016 - 12:30 GMT

EgyptAir pilot strike resolved with 40 percent salary raise

The Organization of Petroleum Exporting Countries said in its latest monthly market report it estimated about $290 billion was cut from spending plans across the globe in the last year.  (AFP/File)
May 15th, 2016 - 11:30 GMT

Oil exploration and production spend to be halved over next two years: OPEC

Hilton Al Hamra Beach and Golf Resort, Ras al Khaimah. (Hilton)
May 15th, 2016 - 10:30 GMT

RAK and Fujairah court Dubai tourists and staycationers

Refugees make up approximately one third of Jordan's total population. (File photo)
May 15th, 2016 - 09:30 GMT

EBRD extends 'exceptional' grant to Jordan for refugee support

The deficit in the balance of payments, and which reached $664 million in the first three months of 2016, constitutes a challenge facing monetary stability in Lebanon. (World Finance)
May 15th, 2016 - 08:12 GMT

Lebanon's Central Bank to launch more economic initiatives

A slowdown in activity will give organisations the opportunity to prioritise projects and address internal issues,  according to PwC MidEast's capital projects services leader. (AFP/File)
May 15th, 2016 - 07:48 GMT

'Lower for longer' oil prices prompt rise in MidEast employment disputes: PwC


The project is already more than half-completed, with the first turbine monopile installed in early April, and construction of the wind farm’s 1,000-tonne offshore substation underway. (Shutterstock)
May 15th, 2016 - 06:00 GMT

Abu Dhabi's Masdar secures $1.84B for UK wind farm project

According to a leaked document, coliform bacteria was found in samples of Nestle Pure Life and Baraka Water bottled water. (Nestle Pure Life)
May 15th, 2016 - 05:31 GMT

Egypt launches investigation into contaminated bottled water

According to Moody's, combination of lower growth, higher debt levels and smaller domestic and external buffers leave Saudi Arabia less well positioned to weather future shocks. (AFP/File)
May 15th, 2016 - 04:21 GMT

Saudi Arabia, Oman, Bahrain suffer second ratings downgrade: Moody's

Dubai beat Yekaterinburg, Russia; Izmir, Turkey; and São Paulo, Brazil in a bid to host the 2020 world's fair.  (Twitter)
May 12th, 2016 - 11:34 GMT

Dubai Expo 2020's masterplan revealed

There has been a 43 per cent drop in the price of oil and gas sold by the company since last year.  (Taqa)
May 12th, 2016 - 10:00 GMT

Abu Dhabi National Energy Company posts $165M loss

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