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The Turkish Petroleum Corporation and the Somali Petroleum Authority signed an onshore hydrocarbon exploration and production agreement in Ankara, Türkiye.
The agreement was signed following a meeting between Somalia's Minister of Petroleum and Mineral Resources, Dahir Shire Mohamed, and Turkey's Minister of Energy and Natural Resources, Alparslan Bayraktar.
"We took a new step that will take the partnership between Türkiye and Somalia in the field of energy to a new stage and reinforce our strategic cooperation," - Bayraktar stated.
Under the agreement, the Turkish Petroleum Corporation (TPAO) will conduct two- and three-dimensional seismic exploration activities across three onshore blocks in Somalia, covering a total area of 16,000 square kilometers. Drilling operations will commence based on the data gathered from these studies.
Minister Bayraktar emphasized that Turkey continues its exploration activities in Somalia not only on land but also at sea. He noted that 78 percent of the three-dimensional seismic surveys conducted by the Oruç Reis Seismic Research Vessel—deployed to the Somali coast in October—have been completed across three offshore blocks, covering approximately 15,000 square kilometers.
“We expect to complete the seismic studies in May,” Bayraktar stated. “Our decision regarding the drilling phase will be based on the data obtained from these surveys,” - he said and added that this development aims to further enhance energy diplomacy between the two nations and to assess Somalia’s energy potential through international cooperation.
A tourist aircraft crashed near Peru's UNESCO-listed Nazca Lines on Saturday (1 August), killing all 13 people on board, authorities said.
U.S. President Donald Trump said late on Saturday he would hold off on a fresh attack on Iran as long as a deal could be reached quickly to halt Iran's nuclear ambitions and reopen the Strait of Hormuz.
Two firefighting helicopters collided while battling a major wildfire in Greece on Sunday, killing two crew members as emergency services continued efforts to contain fires fuelled by extreme heat and dry conditions across Europe.
French Prime Minister Sebastien Lecornu said wildfires that swept across France were now under control. Authorities warned that risks remained as Greece and Spain continued battling active blazes across parts of Europe.
Apple Pay has launched in Kyrgyzstan and Tajikistan, expanding digital payment services across Central Asia and supporting the region's shift towards cashless transactions.
Ford raised its full-year earnings forecast after reporting stronger-than-expected second-quarter adjusted profit, as resilient demand for its vehicles and operational improvements helped offset tariff-related costs.
SK Hynix reported record quarterly profit on Wednesday, but its shares slumped 10 per cent after the South Korean chipmaker fell short of investor expectations built around the artificial intelligence (AI) boom.
Oil prices have fallen more than six per cent as a pause in U.S.-Iran hostilities eased fears of wider supply disruption around the Gulf.
Paramount Skydance agreed to pause its acquisition of Warner Bros Discovery until after a ruling on a challenge by states to the deal, plunging the $110 billion deal into further uncertainty.
China's Foreign Ministry has said it is closely monitoring the United Kingdom's nationalisation of British Steel. Prior to the British government fully taking over the loss-making company on Thursday, it was previously owned by Chinese private steelmaker Jingye.
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