GE Gas Power has announced a significant boost to Iraq’s power generation capacity achieved in partnership with the country’s Ministry of Electricity. The company has successfully serviced and upgraded 1400 megawatts (MW) of gas turbine capacity across the country in the first half of this year. The strategic move aims to enhance power generation capabilities […]
Author Archives: Baset Asaba
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Egypt and Saudi Arabia set to launch $1.8 billion electrical interconnection project
The Egypt–Saudi Arabia electrical interconnection project valued at $1.8 billion is set to undergo testing next month ahead of its trial operation scheduled for next year. The project is the first large-scale high-voltage direct current (HVDC) interconnection in the MENA region, including three substations connected via overhead power transmission lines of 1,350 kilometers (km) in […]
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ADNOC Drilling strikes massive $220 million deal for offshore jack-up rigs
ADNOC Drilling Company has sealed a lucrative deal worth a staggering $220 million to acquire two top-tier offshore jack-up rigs. According to a press statement, the rigs are expected to be delivered to Abu Dhabi waters and commence operations in the fourth quarter (Q4) of 2023. The revenue generated from the new rigs will be […]
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Saudi Arabia’s NWC to award $100 million contract for Riyadh Water Strategic Plan Phase
Saudi Arabia’s National Water Company is on track to award a mammoth engineering, procurement, and construction (EPC) contract worth a staggering $100 million. Industry insiders have revealed that this massive undertaking marks the second phase of the highly anticipated Riyadh Water Strategic Plan, codenamed Contract No. 5 – Phase 1. With the stakes at an […]
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ACWA Power unveils massive solar-powered desalination plant in Jubail
ACWA Power, in partnership with Gulf Investment Corporation (GIC) and AlBawani Water & Power Company (AWP), has successfully launched the groundbreaking Jubail 3A independent water desalination plant, known as Jazlah Water Desalination Company. This significant achievement comes after the plant received the commercial operation certificate from Saudi Water Partnership Co. (SWPC), marking the official start […]
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Kuwait Oil Company set to award $250 million wind energy project
Kuwait Oil Company (KOC) is set to finalise the main construction contract for a pilot wind farm to generate electricity for the oil sector by Q3 2023, according to media reports. A source quoted by Zawya said that the bid submission is currently ongoing, and the Engineering, Procurement, and Construction (EPC) contract is expected to […]
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Hydrom, BP Oman secure $20 billion deals for massive green hydrogen projects
Hydrogen Oman (Hydrom) has taken a major leap forward in the green hydrogen sector by signing three groundbreaking agreements worth over $20 billion. The agreements, sealed with Amnah and Oman Green Energy Alliance, as well as BP Oman, are set to establish three major green hydrogen projects in Oman’s Al Wusta Governorate. With a combined […]
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Tanzania’s $42 billion LNG project nears approval
Negotiations with investors for Tanzania’s $42 billion liquefied natural gas (LNG) project have been successfully concluded, a senior government minister has revealed. The agreements, aimed at tapping into the country’s vast offshore gas resources, are now awaiting review and approval next month, according to media reports. Energy Minister January Makamba said that the finalised agreements […]
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UAE’s Dana Gas eyes $100 million investment to drill new wells in Egypt
Dana Gas, a prominent UAE-based company, is set to commence drilling operations on 11 new wells in Egypt this year with an investment of around $100 million, a senior company official has revealed. The investment is expected to contribute approximately 80 billion cubic feet of reserves and production, said Mohammed Mubaideen, the company’s head of […]
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ENGIE, TAQA achieve $620 million financial close for massive UAE desalination project
UAE’s TAQA, EWEC, alongside France’s ENGIE, have announced the successful financial closing of the AED 2.3 billion ($620 million) low carbon Mirfa 2 Reverse Osmosis (M2 RO) desalination project. The project is primarily funded (78%) through debt financing from both local and international banks, including Abu Dhabi Islamic Bank (ADIB), BNP Paribas Fortis SA/NV, Sumitomo […]
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