��������

JEDDAH: ��������’s Midad Energy North Africa signed a $5.4 billion production-sharing contract with Algeria’s Sonatrach to explore and develop hydrocarbons in the Illizi Basin.

The agreement was signed in Algiers in the presence of Saudi Ambassador Abdullah bin Nasser Al-Busairi and Algerian Minister of Energy and Mines Mohamed Arkab, the Saudi Press Agency reported.

Under the deal, Midad Energy will fully finance the project, including $288 million earmarked for exploration. The contract runs for 30 years, with an option to extend for an additional 10 years, and includes a seven-year exploration phase. 

The partnership, one of ��������’s largest private energy investments in North Africa, aims to boost Algeria’s upstream production and strengthen energy cooperation between the two OPEC member states. 

“By the end of the contractual period, total production is expected to reach about 993 million barrels of oil equivalent, including 125 billion cubic meters of natural gas,” SPA reported. 

The deal supports Algeria’s efforts to reinforce its position as a key energy supplier to global markets while meeting domestic demand and advancing a transition toward more sustainable sources. 

JAKARTA: The recent Southeast Asia Business Events Forum and the Wonderful Indonesia Tourism Fair represent a key moment for the growth of tourism in the country, Minister of Tourism Widiyanti Putri Wardhana said.

She expressed hope that the events, which took place at the Nusantara International Convention Exhibition center in Jakarta over the past week, would help strengthen the tourism sector, especially in the meetings, incentives, conventions and exhibitions sector, and through the promotion and marketing of domestic destinations.

They represent an “important milestone in accelerating the growth of Indonesia’s tourism sector,” said Wardhana.

SEABEF, an international forum for exploring the potential of the business events sector in Indonesia and the wider Southeast Asian region, and the challenges it faces, gathered practitioners, innovators and leaders from the sector to explore and exchange ideas.

“As we continue to broaden our perspective, it is important to remember that events are more than just occasions,” Wardhana said. “They are catalysts that impact job creation, drive the growth of micro, small and medium enterprises, and serve as a showcase of Indonesian culture and creativity to the world.”

She highlighted the effects of events backed by the Ministry of Tourism through its Karisma Event Nusantara program. This year, she said, the program, which involved 95,000 event workers and engaged with 14,800 small and medium-size businesses, helped attract 10.8 million visitors and generate an economic turnover of up to 11.82 trillion rupiah ($714 million).

“That is what we aim to strengthen in SEABEF,” Wardhana said. “We hope the discussions presented will serve as a guide for developing a more innovative, sustainable and inclusive event industry in Southeast Asia.”

WITF, which concluded on Sunday, is organized by the Indonesian Tourism Industry Association and is one of the largest tourism fairs in the country. This year’s event featured 300 exhibitors and 200 buyers from 40 countries, including several from the Middle East. It also includes a consumer show for the general public.

“The Wonderful Indonesia Tourism Fair is a strategic platform for introducing Indonesian destinations to both the domestic and international markets,” Wardhana said.

The Ministry of Tourism supports the event by providing a number of exhibition booths, she added, and organizing a “familiarization trip” through which 45 travel agents and tour operators from Europe, the Middle East and the Americas attend the event. This includes a chance to explore flagship destinations in the country, and culminates in a business-matching event in Bali.

Ahmed Saleh Almatari, of Fursan Travels in ��������, told Arab News on Monday while traveling on to Bali: “WITF 2025 is a good opportunity for us to know, from close quarters, about our counterparts in Indonesia and what they offer for us to explore, and also to come to this wonderful country as part of (the familiarization trip) to experience its natural beauty so that we can explain it better to our clients.

“Our experiences in exploring Indonesia — for example we are in Lombok, which is located closely east of Bali and is called the Island of a thousand mosques, and known for its beaches and surfing spots — will be handy in explaining it well to our customers in Riyadh.

"It is not only a good networking opportunity, but also when back in Riyadh we can better connect people with the wonderful Indonesia.”

Zayed Sami Obidallah, of the Saudi business Almosafer Travel, told Arab News the events offered a good opportunity to meet travel agents and tour operators from Indonesia, Association of Southeast Asian Nations countries, Europe, the Middle East and the Americas.

Wardhana officially opened the events last week alongside Indonesia’s coordinating minister for economic affairs, Airlangga Hartarto. The Ministry of Tourism installed a Wonderful Indonesia booth at WITF that showcased “Wonderful Indonesia Wellness 2025,” a program designed to introduce and promote the potential for wellness tourism in the country, particularly in Central Java and the Special Region of Yogyakarta.

“Through the Wonderful Indonesia Tourism Fair, we want to share the beauty and creativity of Indonesia with the world,” said Wardhana.

Hartarto added that the meetings, incentives, conventions and exhibitions sector was a key pillar of the wider tourism industry, and the development of appropriate, collaboration-based strategies is essential for efforts to maximize the potential of the sector for continued growth and sustainability.

“Ultimately, with a clear vision, strategic planning and strong collaboration, I am confident that we can develop a significant turning point to boost the tourism sector,” he said.

Indonesia hopes to attract between 14 million and 16 million international visitors this year, and the number had already reached 10.04 million by August, according to Ministry of Tourism figures.