Türkiye to Start Oil-Targeted Drilling in Western Black Sea Soon, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
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Türkiye to Start Oil-Targeted Drilling in Western Black Sea Soon, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)

Türkiye will soon begin drilling a challenging oil-targeted well in the western Black Sea, Energy Minister Alparslan Bayraktar said ‌on Wednesday.

"We ‌will soon ‌begin ⁠drilling an oil-targeted ⁠well in the western Black Sea. It will be a difficult ⁠drilling operation and will ‌take ‌some time," ‌Bayraktar told broadcaster ‌CNBC-e.

Türkiye has previously said it plans six exploration ‌wells across the western, central and eastern ⁠Black ⁠Sea in 2026 as it seeks new oil and natural gas discoveries.



Epson Makes Riyadh Its Regional Headquarters for Middle East and North Africa

Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 
Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 
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Epson Makes Riyadh Its Regional Headquarters for Middle East and North Africa

Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 
Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 

Japanese technology company Epson is strengthening its presence in Saudi Arabia and across the Middle East and North Africa with the opening of its regional headquarters in Riyadh, reflecting the Kingdom’s growing importance as a regional business and technology hub.

The headquarters is part of Epson’s strategy to expand its business in Saudi Arabia, where it has operated for more than 15 years, focusing on sectors including education, healthcare and entertainment and offering technology solutions tailored more closely to local market needs.

It will also strengthen links between Epson’s regional operations and its research and development centers in Japan, supporting the development of new solutions in innovation, sustainability and digital transformation.

Husam Al Zughayyar, Regional Head of Sales at Epson Middle East, told Asharq Al-Awsat that selecting Riyadh as the company’s MENA headquarters was part of its Saudi expansion strategy, describing the Kingdom as a strategic market for Epson.

“Establishing the regional headquarters for the Middle East and North Africa in Riyadh reflects the company’s long-term commitment to the Kingdom and its confidence in the potential of its market,” Al Zughayyar said. “Epson has operated in Saudi Arabia for more than 15 years, and the new headquarters represents an important step in expanding this presence and strengthening our operations in the Kingdom and the region.”

He noted that Epson was committed to improving service levels, strengthening ties with its local distribution network, and expanding its presence in the education sector to better serve customers in the Kingdom.

The regional headquarters will serve as a direct link with Epson’s research and data centers in Japan, allowing local insights and requirements to help shape next-generation technologies. The company plans to expand in strategically important sectors such as education, healthcare and entertainment, with solutions tailored to Saudi market needs.

Al Zughayyar highlighted Epson’s long-standing cooperation with Saudi Arabia’s education sector, including its partnership with Tatweer Educational Technologies Company (TETCO), a strategic technology arm of the Ministry of Education.

“We will provide interactive display solutions for schools and universities in the Kingdom, supporting the development of smart classrooms and interactive learning,” he stated, adding that the cooperation aligns with Saudi Vision 2030 objectives for education, digital transformation and technology investment.

Al Zughayyar expressed strong optimism about the Saudi market, citing its size and the rapid economic and technological transformation underway under Vision 2030, alongside growing adoption of digital technologies.

These developments are creating opportunities for technology companies in education, healthcare, financial services, tourism and hospitality, retail and government, he underlined.

Continued investment in digital infrastructure and smart cities, together with improvements in the business environment, is strengthening Saudi Arabia’s position as a regional hub for technology and innovation and its ability to attract international investment.

Epson sees substantial opportunities to offer innovative and sustainable solutions in printing, scanning, visual communications, manufacturing and lifestyle products tailored to evolving customer needs.

The company is also supporting digital transformation and local talent development. Epson launched a graduate program in 2022 to provide young professionals with practical experience and develop their skills, with three graduates subsequently joining its workforce.

Between 2022 and 2024, Epson increased its investment in facilities across the region by 28.6 percent and investment in human resources by 45 percent.

The company plans to expand its partner and channel network in Saudi Arabia, deepen relationships with local customers and partners and establish more direct links with its research and data teams in Japan.


National Housing Company Invests About $880 Million in Riyadh Data Center

Visitors at the company’s pavilion during LEAP 2026 in Riyadh. (Asharq Al-Awsat)
Visitors at the company’s pavilion during LEAP 2026 in Riyadh. (Asharq Al-Awsat)
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National Housing Company Invests About $880 Million in Riyadh Data Center

Visitors at the company’s pavilion during LEAP 2026 in Riyadh. (Asharq Al-Awsat)
Visitors at the company’s pavilion during LEAP 2026 in Riyadh. (Asharq Al-Awsat)

Saudi Arabia’s National Housing Company (NHC) is expanding its technology investments, moving beyond the development of digital platforms and services to deeper infrastructure and technological capabilities for the real estate sector, including data centers, artificial intelligence, data analytics and geospatial technologies.

The shift comes as the company seeks to reshape the real estate customer journey, from searching for a home and securing financing to ownership and managing related services, through an integrated digital ecosystem supported by data and advanced technologies.

Rayan Alaql, CEO of NHC Innovation, the digital and technology arm of NHC, told Asharq Al-Awsat that the company had evolved from building digital platforms serving specific procedures to developing an integrated technology ecosystem that is reshaping the real estate experience, from searching for a home, financing and ownership to managing interactions with municipal and real estate services.

Investment in technology capabilities

Alaql explained that the company’s technology investments had expanded from platforms and digital services to deeper enabling capabilities, including data, AI, infrastructure, data centers and technologies supporting smart cities.

The data center at Khuzam Digital Valley is part of this strategy, with investments totaling SAR 3.3 billion, or about $880 million, and a target IT load of up to 65 megawatts by 2033.

The center is intended to develop digital infrastructure supporting cloud services and advanced technologies. Its services will include hosting and leasing, managed services, cloud computing and IT, power and connectivity, and value-added services.

To support the center’s readiness and attract global technology partnerships, the company signed cooperation agreements with BytePlus, the technology arm of ByteDance, and NAVER Innovation. The agreements include allocating capacity to the two companies as the first customers of the data center, alongside providing technological services supporting their operations and digital needs.

Serving more than 35 million users

Alaql noted that the company’s platforms serve more than 35 million direct and indirect users, including beneficiaries, entities and partners, through an ecosystem of platforms and digital solutions linked to housing, municipal services and real estate regulation. Users have interacted with more than 15 digital platforms.

He said usage patterns had changed significantly in recent years. Users no longer access a platform merely to complete a procedure, but increasingly rely on it to make decisions, compare options, find suitable services and follow their journey more clearly.

This shift, he added, reflects how the platforms have become part of the sector’s operating infrastructure rather than an additional service channel.

AI in real estate services

Alaql stressed that the company regards AI as a fundamental enabling layer rather than a standalone product, using it to improve the customer experience, enhance recommendations, analyze patterns, facilitate access to appropriate real estate options and provide relevant entities with more accurate insights into the market, demand and services.

He cited the Sakani platform as an example, saying the objective is to help users identify options that most closely match their needs, financial capacity and preferences instead of confronting them with thousands of choices.

The real impact of AI, he added, emerges when it produces tangible results: faster service, clearer decisions, lower operating costs and a fairer, more transparent experience for users.

Data and geospatial technologies

He said the next stage of urban and real estate planning requires a more precise understanding of location, demand, mobility, services and infrastructure, with geospatial technologies and AI helping planners view a city as an interconnected system.

Linking spatial data with information on demand, services, utilities and user behavior can make planning decisions more precise and help identify priorities, including where development is needed, where services should be expanded and where gaps can be reduced.

He added that such tools shorten the time required for studies and analysis, reduce decisions based on subjective impressions and allow authorities and developers to plan with greater confidence.

Partnerships and homeownership

Alaql said global partnerships aim to transfer knowledge, accelerate capacity building, develop solutions applicable to the Saudi market and connect local expertise with leading global technologies.

The company has pursued partnerships in AI, data, data centers and smart cities as part of efforts to build local capabilities and develop products addressing market needs.

On financing and homeownership, he pointed that customers have historically had to navigate multiple entities, numerous decisions and incomplete information.

The company is working to build a more connected journey, beginning with understanding the customer’s needs, presenting appropriate options and facilitating financing through to completing procedures clearly and quickly.

The aim is not merely to move procedures onto a digital platform, he stressed, but to redesign the journey itself through integrated data, clearer options and systems capable of recommendation, verification and matching.

The company participated in LEAP 2026 in Riyadh last week. The official underlined that its participation reflected a new stage in its development, focused not only on showcasing digital solutions but on demonstrating how technology can reshape real estate, support smart cities and build digital infrastructure capable of meeting future needs.

Alaql described LEAP as a platform for highlighting the evolution of the company’s business model from developing digital services to building the technological enablers of the digital economy in real estate and cities.


Saudi Renewable Energy Moves from Initiatives to Expansion

A solar panel project in Saudi Arabia. (SPA)
A solar panel project in Saudi Arabia. (SPA)
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Saudi Renewable Energy Moves from Initiatives to Expansion

A solar panel project in Saudi Arabia. (SPA)
A solar panel project in Saudi Arabia. (SPA)

Saudi Arabia’s renewable energy sector is accelerating its shift from launching initiatives to large-scale operations and expansion, with operational project capacity jumping 88 percent in 2025 to reach 12.313 gigawatts by year-end.

Investment in existing projects exceeded SAR 36 billion ($9.6 billion), reflecting the sector’s growing scale as the Kingdom works to diversify its energy mix and increase the use of renewable energy sources.

According to the latest data from the General Authority for Statistics (GASTAT), 15 renewable energy projects were operational in the Kingdom by the end of 2025.

Specialists said faster project implementation and rising investment in clean technologies are paving the way for further expansion in the coming years, encompassing solar and wind power and green hydrogen, alongside growth in related industries and the localization of supply chains and specialized workforce capabilities.

The figures are part of the authority’s "Raqam Saudi" ("Saudi Number") initiative, which highlights national statistics and indicators and their significance for economic, social and development trends.

Historic transformation

Majid Refae, chairman of the Saudi Polytechnic Institute for Renewable Energy (SPIRE), described the sector as undergoing an unprecedented qualitative transformation in the Kingdom’s modern economic history.

He said the shift goes beyond the growing scale of investment projects to include exceptionally rapid implementation, a more mature regulatory and administrative framework, and greater integration of the infrastructure needed to support the emerging industry.

Refae underlined that the indicators clearly reflect Saudi Arabia’s move from the stage of launching initial initiatives to an advanced phase of operating the renewable energy system on a broad and practical scale, demonstrating greater maturity in implementation and planning capabilities.

He attributed the momentum to three main drivers working in tandem: faster implementation of projects under the National Renewable Energy Program, expanding domestic and international investment in clean technologies, and the Kingdom’s achievement of world-leading levels of competitiveness.

Taken together, he said, these developments confirm that Saudi Arabia has established itself as a major player in the global renewable energy market.

The transformation is being pursued through a strategy led by the Ministry of Energy in cooperation with the Public Investment Fund (PIF) and based on developing projects, infrastructure and local capabilities needed for the sector’s growth.

Sustainable economic base

From an industrial and economic perspective, Refae described renewable energy as an important avenue for diversifying the Saudi economy and building a stronger and more sustainable production base.

He pointed to the importance of the current phase, which extends across four interconnected areas: diversifying the economy and creating new sectors, strengthening energy security and the long-term sustainability of supplies, generating environmental and development benefits, and reinforcing the Kingdom’s regional and international standing.

Saudi Arabia now holds an advanced position regionally and globally in areas including production costs, project scale, infrastructure readiness and the development of green hydrogen projects, stressing that those strengths enhance the Kingdom’s attractiveness for cooperation and investment in the next phase, he added.

Refae expects Saudi Arabia to enter a new phase of growth in the sector between 2026 and 2030, driven by major solar and wind projects coming on stream, alongside an expansion in green hydrogen projects for both production and export.

The Kingdom’s stated target is for renewable energy to account for 50 percent of its electricity mix by 2030. Faster project implementation and growing investment, he said, strengthen its ability to achieve that goal.

Given the scale of the targets, government financing alone will not be sufficient, making broader participation by the local private sector and international companies necessary.

Public-private partnerships can attract further investment, draw on global expertise and technology, accelerate project implementation and develop related supply chains, he remarked.

Local manufacturing

Growth in renewable energy projects is also expected to expand supporting industries and services, increasing the importance of localizing the manufacture of key components and parts.

According to Refae, building a domestic manufacturing base would reduce reliance on imports, create jobs and increase value added to the national economy.

Faster project implementation also places greater responsibility on SPIRE to prepare the skilled workforce required by the industry, he noted, stressing that its role "is not limited to training, but carries multiple strategic dimensions."

Institute strategy

Refae said the institute’s main priority is to prepare specialized Saudi professionals capable of operating and maintaining renewable energy projects in line with international standards, while also contributing to knowledge transfer, skills development and innovation.

SPIRE is developing specialized training programs covering solar and wind power, green hydrogen and energy-storage technologies, with an emphasis on practical and applied instruction that links training to the actual needs of projects and the labor market, he revealed.

He noted that the expansion of renewable energy projects gives SPIRE an opportunity to strengthen its role as a platform for developing capabilities, transferring expertise and supporting innovation, rather than serving merely as a conventional training provider.

Refae noted that the growth of the renewable energy sector represents an important opportunity to diversify the economy and create new areas of activity and investment.

Fully capitalizing on that opportunity will require continued investment in Saudi talent, research and development, innovation, and stronger partnerships with domestic and international companies and institutions, he said.