Month: October 2012

Tunisia gives Royal Dutch Shell oil exploration deal

In a move to attract foreign investment, Tunisia has award Royal Dutch Shell with an oil exploration deal.

Royal Dutch Shell has won a $150 million oil exploration deal in Tunisia as part of plans to attract investments to the energy sector, the industry minister said on Saturday.

“Shell will drill oil wells in the centre of the country at a cost of $150 million,” Lamine Chakari said.

Exploration and drilling operations will take place in the areas of El Jem, Kairouan, Sousse and Sfax, he said, without giving more details.

This is a continuation of African nations discovering more oil and gas deposits. Such discoveries are a good opportunity for economic development.  Resource management is another issue. Overseeing all this requires, sound governance and environmental protection.

Turkey and Egypt seeking to boost alliance

Egypt’s President Mohamed Morsi and Turkey’s Prime Minister Recep Tayyip Erdogan.

Turkey and Egypt are working on closer strategic ties between both nations.

Dozens of ministers from Turkey and Egypt will gather in Cairo in November in a bid to boost their alliance, Turkish Prime Minister Recep Tayyip Erdogan said on Sunday.

“Accompanied by 13 ministers, I will be in Cairo in early November,” for the meeting of a high-level strategic council established between the two countries to bolster ties, Erdogan told a news conference with Egyptian President Mohamed Morsi in Ankara.

“I am fully confident that the meeting … will bring about very important results,” said Erdogan.

Morsi praised Turkey for standing by the Egyptian people during and after the revolution that toppled president Hosni Mubarak of Egypt in February 2011, and said Cairo would never hesistate to establish a partnership with Ankara.

The Egyptian president, who addressed the AKP congress early in the day, lauded Erdogan’s party as a “source of inspiration” for the region.

Turkey has increased the relationships it has among many African nations recently. From Libya, Somalia, Congo, this new focus is aimed at forming ties, partnerships not just based on economics but also increase Turkey’s political clout in the Middle East and Africa.