Houston-based firm McDermott is advancing construction of Aramco’s Marjan expansion project aiming to complete it by 2025, data by DMS Projects shows. In July 2019, McDermott announced the award of two engineering, procurement, construction and installation (EPCI) contracts for the Marjan field expansion project. The first EPCI contract, valued at $3 billion, was for the Marjan […]
Author Archives: Faiza Rizvi
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L&T awards major contract for futuristic NEOM megaproject
Larsen & Toubro (L&T) has awarded a contract to Grid Solutions, an integral part of the GE Vernova portfolio of energy businesses, to supply gas-insulated substations (GIS) for the world’s largest utility-scale hydrogen plant to be powered entirely by renewable energy. In December 2022, NEOM Green Hydrogen Co (NGHC) named Indian contractor L&T as the sub-EPC contractor for its […]
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GE secures service contract for Abu Dhabi’s Taweelah B complex
GE Gas Power has signed an agreement with the Taweelah Asia Power Co (Tapco) to provide a range of asset and performance services for the gas turbines at the Taweelah B Power and Desalination Complex in Abu Dhabi. Tapco, the owner of the largest independent water and power plant (IWPP) in the UAE, is 60% […]
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Aramco’s Namaat program progresses work on launching $25 billion companies
Aramco’s Industrial Investments Program, Namaat, is progressing work on launching a cloud storage company, an iron sheet manufacturer, and a logistics management center among several other firms. The initiative, launched by the oil giant in 2021, is helping launch 31 local and international companies with an estimated total value of $24.53 billion, Arab News reported. Of […]
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Saudi Arabia, China sign $10 billion deals
Saudi Arabia and China have signed 30 investment agreements worth $10 billion across various sectors including technology, renewables, minerals, supply chains, and healthcare on the first day of the 10th Arab-China Business Conference. According to the Investment Ministry, the Saudi government signed deals with several Chinese entities for projects including a joint venture for automotive […]
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Petrofac signs $1.5 billion EPC contract in Algeria
Petrofac today confirmed it has entered into a definitive agreement with STEP Polymers SPA, a Sonatrach subsidiary, for the design and build of its petrochemical complex in the Arzew Industrial Zone in Algeria. The contract award was originally announced in May 2023. Petrofac will deliver the $1.5 billion project with its joint venture partner China […]
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UAE contractor Gulf Marine secures two offshore contract extensions
Gulf Marine Services (GMS), a UAE-based provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewables sectors, has announced the award of two contract extensions in the GCC region.  The award of these contract extensions reflects continued highly favourable market conditions and the quality of the company’s fleet, reaffirming GMS’s leading […]
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Iraq approves record $153 billion budget for projects and hiring
Iraqi government on Monday approved a 2023 budget of a whopping $153 billion that sets out record spending on a growing public wage bill and development projects to improve services and rebuild infrastructure ruined by neglect and war. The budget is based on an oil price of $70 per barrel and projects oil exports at […]
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India’s Infinite Mining to build new oil refinery in Sharjah
India’s Infinite Mining & Energy has leased a 200,000 square feet land plot from Sharjah’s Hamriyah Free Zone Authority (HFZA) to build a multifunctional oil refinery. The new facility will have a processing capacity of 10,000 barrels/day and an annual refining capability of up to 3.6 million barrels, HFZA said in a statement. No details […]
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Saudi Arabia, UAE, Qatar and Oman to hire over 1 million Filipinos for new jobs
According to the Philippines Government, there are plans for extensive recruitment of Filipino workers in Saudi Arabia, UAE, Qatar, and Oman.The sectors expected to see significant recruitment include tourism, hospitality, and construction, Arabian Business reported. The Department of Migrant Workers (DMW) of the Philippines is currently working on signing a memorandum of cooperation with these […]
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