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Saudi Ports Authority Signs $586 Million Worth Privatization Contracts For Multipurpose Cargo Terminals
Saudi Gulf Projects
Saudi Ports Authority Signs $586 Million Worth Privatization Contracts For Multipurpose Cargo TerminalsSaudi Ports Authority, Mawani— in collaboration with the National Center for Privatization — signed contracts to privatize multipurpose cargo terminals at eight Saudi ports under a Build-Operate-Transfer (BOT) model spanning 20 years. The agreements were signed with national partners Saudi Global Ports and Red Sea Gateway Terminal Company, with private sector investments exceeding SAR 2.2 billion. Under the contracts, Saudi Global Ports will develop, manage, and operate multipurpose terminals at four Eastern Province ports under Mawani’s jurisdiction: King Abdulaziz Port in Dammam, Jubail Commercial Port, King Fahd Industrial Port in Jubail, and Ras Al-Khair Port. Red Sea Gateway Terminal will manage the development and operations of multipurpose terminals at four Western Province ports: Jeddah Islamic Port, Yanbu Commercial Port, King Fahd Industrial Port in Yanbu, and Jazan Port. The privatization contracts for King Fahd Industrial Port in Yanbu involve increasing container handling capacity through the deployment of the latest STS and RTG cranes, reach stackers, modern trucks and trailers, as well as reducing truck turnaround times and vessel berth stays — all contributing to improved operational efficiency. The Agreement was signed in the presence of H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Logistic Services and Chairman of the Saudi Ports Authority, Mawani. The signing ceremony was also attended by Mr. Mazen bin Ahmed Al-Turki, Acting President of Mawani; Eng. Abdullah bin Mohammed Al-Zamil, Chairman of Saudi Global Ports; Mr. Aamer Alireza, Chairman of Red Sea Gateway Terminal; and a number of other officials. Speaking at the ceremony, H.E. Eng. Saleh Al-Jasser noted that these successive private sector investments reflect the strong appeal of Saudi ports and the logistics sector — a sector that receives generous support from the Custodian of the Two Holy Mosques and His Royal Highness the Crown Prince, may God protect them. He also stated that Saudi ports have witnessed remarkable progress in operational efficiency, cargo handling rates, and maritime connectivity, according to international indices — driven by significant investments from leading global and national logistics companies. The Minister emphasized that the transport and logistics ecosystem will continue to strengthen its partnerships with the private sector across all areas and regions of the Kingdom. He noted that these privatization contracts represent an extension of Mawani’s strategic partnerships with major national and international companies, enabling growth in the maritime transport sector, diversifying the economy, and reinforcing Saudi Arabia’s position as a global logistics hub — in line with the goals of the National Transport and Logistics Strategy and Saudi Vision 2030. For his part, H.E. Mr. Mohannad bin Ahmed Basodan, CEO of the National Center for Privatization, affirmed that the Center aims to empower the private sector to play a key role in enhancing public services and improving operational efficiency. He noted that the signing of these privatization contracts across eight seaports is one of the most significant initiatives in this regard, enabling the private sector to leverage its expertise to develop advanced maritime services aligned with the highest global standards — thereby enhancing operational performance and unlocking broad prospects for economic growth. These efforts also reflect the Center’s vision of building an effective privatization ecosystem that delivers sustainable economic impact and supports the Kingdom’s ambition to become a global logistics hub under Saudi Vision 2030. Notably, these privatization contracts between Mawani and the private sector were signed following approval from the Supervisory Committee for Privatization in the Transport and Logistics Sector, chaired by H.E. Eng. Saleh bin Nasser Al-Jasser. They aim to enhance the competitiveness of Saudi ports, expand operational capacity, support economic growth, and contribute to sustainable development. To Promote your Products and Services on SaudiGulf Projects, please visit "Advertise" Section
oil-gas
Jun 23, 2025
Neom: Voluntary Carbon Market, Enowa Sign Agreement To Deliver Over 30 Million Tons Of Carbon Credits
Saudi Gulf Projects
Neom: Voluntary Carbon Market, Enowa Sign Agreement To Deliver Over 30 Million Tons Of Carbon CreditsThe Voluntary Carbon Market Company (VCM), a carbon credit company established by PIF and Saudi Tadawul Group, and Enowa, the energy and water subsidiary of NEOM, have announced a long-term agreement to facilitate the delivery of approximately 30 million tonnes of carbon credits within this decade. The scale and duration of the agreement marks a significant milestone in VCM’s ambition to create a thriving voluntary carbon market in the region. The deal will see high integrity carbon credits delivered to Enowa from climate action projects from around the world, with most projects based in the Global South and transacted on the VCM platform. The first delivery under the arrangement took place on December 19, 2024. Riham ElGizy, Chief Executive Officer of VCM, said: “The long-term agreement between VCM and Enowa to facilitate the delivery of over 30 million tonnes of carbon credits by 2030 marks a significant moment in Saudi Arabia’s journey to drive growth in global voluntary carbon markets. It helps Enowa, a company committed to creating a renewable energy system to power NEOM, compensate for today’s emissions while creating sustainable infrastructure for the long term.” She added: “Equally, the deal aims to give climate action projects in the Global South and beyond funding certainty, so they can plan for the next few years with confidence. To achieve global net zero, climate projects which reduce or remove carbon from our atmosphere need not just finance but certainty too. Enowa’s leadership has been representative of what the VCM exchange platform in Saudi Arabia can help unlock at a time when finance is top of the global climate agenda.” Jens Madrian, Acting Chief Executive Officer of Enowa, said: “Enowa is striving to ensure NEOM’s energy needs are met sustainably. Over the past two years, we have purchased high-integrity carbon credits from VCM’s auctions. This year, we are delighted to be the first company in Saudi Arabia to agree to a large-scale, long-term agreement with VCM.” VCM launched Saudi Arabia’s first voluntary carbon credit exchange platform on November 12, 2024. The platform is designed to meet market requirements for a transparent, scalable and increasingly liquid marketplace, by offering: • Institutional grade infrastructure, to enable transparent and secure transactions • Price and data discovery for carbon credit projects, key to growing the market globally and providing a price signal on projects from MENA regions • Open market connectivity, integrated with leading global registries • Scope to develop specialized infrastructure for trade in carbon credits to enable Islamic Finance • Auction market, RFQ and block trade functionality, followed by spot market and other functions launching in 2025 The voluntary carbon offset market is expected to grow from USD 2 billion in 2020 to around USD 250 billion by 2050 1 . To promote growth of the voluntary carbon market in Saudi Arabia and the region, VCM’s exchange is being designed to offer buyers and sellers institutional grade infrastructure, enabling fast and secure transactions. Enowa has been a leading participant in VCM’s previous auctions, which took place in Saudi Arabia in 2022 and in Kenya in 2023. Through its mandate to realize NEOM, Enowa serves as a blueprint for sustainable urban development worldwide, enhancing the planet's future while promoting economic diversification and improving quality of life. To Promote your Products and Services on SaudiGulf Projects, please visit "Advertise" Section
oil-gas
Jun 20, 2025
Oman Awards $262 Million Worth Contracts
Saudi Gulf Projects
Oman Awards $262 Million Worth ContractsOman’s Tender Board, announces that it has awarded several tenders and supplementary works for developmental projects across multiple sectors during its second meeting this year (2025), with a total value of RO 100,915,705. The approved tenders include: 1- A four-year government agreement for Oracle software licenses valued at RO 33,180,391. 2- A road paving project for Seih Jreen, Al-Aqeedah, Al-Saleel, and Al-Bateen roads in the Wilayat of Al Qabil, North A’Sharqiyah Governorate, worth RO 12,423,487. 3- An asphalt road construction project in the Wilayat of Dhank, A’Dhahirah Governorate, valued at RO 8,199,986. 4- Dual-carriageway project in the Wilayat of Diba, Musandam Governorate, worth RO 4,885,739. 5- Asphalt road maintenance in Al Buraimi Governorate, valued at RO 3,970,186. 6- Provision of technicians for operating and maintaining medical equipment at Nizwa Hospital and other health institutions in A’Dakhiliyah Governorate, worth RO 3,304,444. 7- Beautification works for the Hayy Souq Al Mal area (CBD) in Muscat Governorate, valued at RO 3,288,137. 8- Improvement works for the Al Shuwaymiyah mountain pass in Dhofar Governorate, worth RO 3,204,899. 9- A five-year internet service contract for the Ministry of Commerce, Industry, and Investment Promotion and its affiliated directorates, valued at RO 1,012,210. 10- Periodic maintenance for radiology equipment at The Royal Hospital, worth RO 787,750. 11- Periodic maintenance for ventilators across various health institutions, valued at RO 783,094. 12- Renewal of the lease for the Specialized Institute for Vocational Training for Teachers, worth RO 394,470. 13- Renewal of the contract for blood gas analyzers at The Royal Hospital, valued at RO 236,019. 14- Renewal of the lease for the Omani Hajj Mission building in Makkah, worth RO 235,704. 15- A contract for educational services for students with autism spectrum disorder, valued at RO 230,200. 16- A media partnership agreement with a global network for the Oman International Investment Forum 2025, worth RO 211,750. 17- Reservation of exhibition space at the Arabian Travel Market in the UAE, valued at RO 187,045. 18- Provision of periodic maintenance for X-ray and CT scan machines in various health institutions at a value of RO 154,339. 19- Licenses renewal and supporting network devices in the data center at the Authority for Small and Medium Enterprises Development at a value of RO 153,066. 20- Provision of periodic maintenance for polymerase chain reaction machines in various health institutions at a value of RO 148,292. 21- Renewal of the advanced contract to support the human resources management system at a value of RO 147,861. 22- Provision of periodic maintenance for the emulsification system in various health institutions at a value of RO 96,073. 23- Additional works for the restoration of the southern runway and taxiways at Muscat International Airport, worth RO 4,826,163. 24- Supplementary engineering consultancy services for the Oman Botanic Garden project, valued at RO 3,792,073. 25- Additional works for annual asphalt road maintenance in A’Dakhiliyah Governorate, worth RO 3,716,328. 26- Supplementary works for annual asphalt road maintenance in Dhofar Governorate, valued at RO 2,624,262. 27- Additional works for maintenance of mountain dust roads in Dhofar Governorate, worth RO 1,913,617. 28- Supplementary works for maintenance of desert dust roads in Dhofar Governorate, valued at RO 1,723,363. 29- Additional works for slope stabilization along the Argut/Sarfeet road in Dhofar Governorate, worth RO 1,071,522. 30- Supplementary works for hygiene and pest control services at Sultan Qaboos University Hospital, valued at RO 672,216. 31- Design and construction of a link road for the parade ground in the Wilaya of Sohar, North Al Batinah Governorate, worth RO 485,965. 32- Additional works for the management of Oman’s high-speed government network, valued at RO 366,485. 33- Supplementary works for the design and paving of internal roads in the Wilayat of Shinas, worth RO 316,162. 34- Additional consultancy services for the Bidbid-Sur dual-carriageway project (Phase 1), valued at RO 301,377. 35- Supplementary works for the design and paving of internal roads in Wadi Al-Hareem in the Wilayat of Yanqul, ADhahirah Governorate, worth RO 277,680. 36- Completion works for boys’ school in the Wilayat of Al Awabi, South Al Batinah Governorate, valued at RO 269,900. 37- Infrastructure works for carriages sites in Dhofar Governorate, worth RO 227,317. 38- Consultancy services for the Shinas-Mahdah dual-carriageway project in North Al Batinah and Al Buraimi Governorates, valued at RO 220,653. 39- Additional consultancy services for the Muscat International Airport runway renovation project, worth RO 207,400. 40- Development works for Al-Husn area in the Wilayat of Al Khabourah, valued at RO 164,178. 41- General lighting maintenance for fishing ports across various governorates, worth RO 125,720. 42- Supplementary works under the framework agreement for the Wusool project, valued at RO 100,000. 43- Construction of eight classrooms and two teachers’ rooms at Suhail bin Amr Basic Education School in the Wilayat of Shinas, worth RO 79,000. 44- Development of traditional irrigation systems for Falaj Al Buraimi in Al Buraimi Governorate, valued at RO 39,998. 45- Development of traditional irrigation systems for Falaj Sa’ara in Al Buraimi Governorate, worth RO 39,393. 46- Consultancy works for establishing scientific research centers, valued at RO 38,071. 47- Development and hosting support for the e-health portal, worth RO 26,145. 48- Engineering consultancy services for the design and supervision of Al Namaa Hospital in North A’Sharqiyah Governorate, valued at RO 24,882. 49- Consultancy services for schools in South Al Batinah Governorate, worth RO 23,276. 50- Consultancy services for schools in A’Dakhiliyah and A’Dhahirah Governorates, valued at RO 7,395. To Promote your Products and Services on SaudiGulf Projects, please visit "Advertise" Section
oil-gas
Jun 19, 2025
Oman’S Oqgn Awards $272.7 Million Fahud – Suhar Loop Line Project
Saudi Gulf Projects
Oman’S Oqgn Awards $272.7 Million Fahud – Suhar Loop Line ProjectOQ Gas Networks SAOG, Oman announces the award of the tender for Engineering, Procurement and Contracting works (EPC) for the 42″ second Loop Line Fahud- Suhar Project. The value of the contract is approximately OMR 105 million (USD 272.7 million), The Project was awarded to The Petroleum Projects Company Petrojet and Partners LLC. The agreement signed on 17th June 2025. As part of the execution strategy, the Company has also awarded the supply of 193 KM of line pipe to Jindal Saw Limited. The planned execution duration of the project is 24 months. Earlier during November 2024, the company announces the approval for the execution of a new 42-inch, 193 km loop line from Fahud to Sohar.(read more) The Project aims to accomodate the expected growth in Sohar and Ibri regions in alignment with Oman’s national energy objectives and OQGN’s long-term infrastructure development plan. The Project is expected to be completed by 2027 and will an additional capacity of 9 Million Metric Standard Cubic Meter per Day (MMSCMD) to OQGN’s north gas network. To Promote your Products and Services on SaudiGulf Projects, please visit "Advertise" Section
oil-gas
Jun 18, 2025
Uae: Meraas Awards $122.5 Million Contract For Central Park Plaza Construction
Saudi Gulf Projects
Uae: Meraas Awards $122.5 Million Contract For Central Park Plaza ConstructionMeraas, a member of Dubai Holding Real Estate, has awarded a construction contract worth more than AED450 million to Naresco Contracting LLC for the main construction works of a high-end residential development called Central Park Plaza. This latest addition to City Walk, Dubai’s prominent lifestyle destination, is slated to be handed over in Q3 2027. The project includes residential complex towers A and B, with 23 and 20 floors respectively, comprising 212 apartments. Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said, “Central Park Plaza at City Walk is an ideal destination offering a new level of modern lifestyle in the heart of Dubai. This embodies our commitment to developing upscale destinations that prioritize community life and well-being.” To Promote your Products and Services on SaudiGulf Projects, please visit "Advertise" Section
oil-gas
Jun 18, 2025
Uae’S Nakheel Awards Over $204 Million In Contracts For Palm Jebel Ali Infrastructure Works
Saudi Gulf Projects
Uae’S Nakheel Awards Over $204 Million In Contracts For Palm Jebel Ali Infrastructure WorksNakheel, part of Dubai Holding Real Estate, has awarded three major contracts,  for infrastructure works on Palm Jebel Ali, which are scheduled for completion in Q4 2026. The value of the contract is over AED750 million. The contracts, awarded to DBB Contracting LLC, mark a significant milestone in the ongoing development of the landmark waterfront destination in Dubai. DBB Contracting LLC has an established track-record of working on Palm Jebel Ali, having previously been contracted to undertake other infrastructure projects on the island, including provision for public access and road construction. Setting a global benchmark in waterfront living, Palm Jebel Ali is one of Nakheel’s most visionary projects, offering an exceptional breadth of lifestyle amenities that will significantly contribute to Dubai’s future growth over the next few decades. Revealed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Palm Jebel Ali supports the Dubai Economic Agenda D33 and marks the beginning of a new growth corridor in the Jebel Ali area, underlining the expansion of the emirate. Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said: “Palm Jebel Ali exemplifies Dubai’s ambition to redefine global waterfront living through an innovative luxury lifestyle mega project. The iconic development is set to transform the city’s urban landscape in alignment with the leadership’s vision to create a world-class destination that will attract residents, tourists and investors. We are pleased to extend our association with DBB Contracting LLC, a partner whose proven expertise and unwavering dedication to quality will help ensure the successful delivery of this important project.” Eugene Terreblanche, General Manager, DBB Contracting LCC, added: “DBB Contracting LCC is proud to be part of this landmark project and is excited to collaborate with Nakheel in shaping the future of Dubai. With our expertise and commitment to excellence, we look forward to bringing this visionary development to life.” The comprehensive infrastructure scope encompasses Fronds A to G, including utility connections, all associated ground works for excavation and backfilling as well as road and pavement construction. It also entails all related utility works for 11kV power distribution and telecoms. The Spine District’s infrastructure works include utility mains, connection to all utility links on the fronds and all major and secondary road construction. The scope also consists of rough grading for the DEWA power transmission line serving Palm Jebel Ali, including associated works. Spanning 13.4 kilometres, Palm Jebel Ali’s seven islands feature 16 fronds and over 90 kilometres of beachfront, directly supporting the Dubai 2040 Urban Master Plan’s commitment to expand public beach access. The development is set to establish a new standard for waterfront living with several mixed-use pedestrian-friendly neighbourhoods offering panoramic views of the Arabian Gulf. Residents and visitors will enjoy diverse recreational spaces, the latest smart city technologies and sustainable practices, complemented by seamless mobility solutions that enhance connectivity for residents, visitors and the surrounding community. To Promote your Products and Services on SaudiGulf Projects, please visit "Advertise" Section
oil-gas
Jun 16, 2025
Kent Awarded $1.1 Billion Contract From Adnoc Gas
Saudi Gulf Projects
Kent Awarded $1.1 Billion Contract From Adnoc GasKent announces that it has been awarded a major Engineering, Procurement and Construction Management (EPCM) contract from ADNOC Gas. The value of the contract is approximately $1.1 billion. The Project is related to the optimisation and expansion of its Asab and Buhasa gas processing facilities. This award marks a significant chapter in Kent’s decades-long partnership with ADNOC and strengthens its position as a leading EPCM contractor in the region. The award is part of ADNOC Gas’ broader $5 billion Rich Gas Development (RGD) Project, a strategic initiative designed to unlock new gas reservoirs, boost liquid gas exports and enhance gas self-sufficiency for the UAE. Kent’s scope will focus on debottlenecking and optimising existing assets at the Asab and Buhasa sites, enabling increased throughput and improved operational efficiency to meet growing energy demands. With this award, Kent continues to build on its established track record of delivering complex EPCM scopes for ADNOC and other leading operators across the Middle East. The company’s extensive regional presence, technical depth and longstanding client relationships have made it a trusted partner in delivering safe, innovative and sustainable project outcomes. Tush Doshi, Chief Operating Officer at Kent, commented: “This contract award is a clear testament to the strength of our relationship with ADNOC and our track record of successful delivery in the UAE. We are proud to support ADNOC Gas’ strategic ambitions with this important work at Asab and Buhasa. It reflects the confidence placed in Kent’s EPCM expertise and our commitment to excellence, safety and long-term value creation.” The Rich Gas Development project plays a vital role in ADNOC Gas’ strategy to grow between 2023 and 2029. ADNOC Gas has also underscored its commitment to enhancing In-Country Value (ICV), with plans to create hundreds of new technical roles by 2029, contributing to the UAE’s national economic growth. To Promote your Products and Services on SaudiGulf Projects, please visit "Advertise" Section
oil-gas
Jun 11, 2025
Borouge And Adnoc L&S Signs $531 Million Strategic Partnership Agreement
Saudi Gulf Projects
Borouge And Adnoc L&S Signs $531 Million Strategic Partnership AgreementBorouge Plc and ADNOC Logistics & Services Plc (ADNOC L&S) have entered a 15-year strategic partnership that will support a significant increase in the production and export of petrochemicals from the UAE. The mutually beneficial service agreement will deliver a minimum guaranteed value of $531 million (AED1,950 million), supporting the next phase of Borouge’s accelerated growth plans, driving operational cost savings over the full contract term, realising more than $50 million in cost savings and efficiencies in the first five years alone, and enhancing the company’s supply chain network. The agreement covers port management, container handling, and feeder container ship services for the Borouge Container Terminal in Al Ruwais Industrial City, Abu Dhabi. ADNOC L&S will manage the transportation of up to 70 percent of Borouge’s annual production, which will increase significantly following the completion of the Borouge 4 plant expansion. It will deploy a minimum of two dedicated container feeder ships to transport Borouge’s products from Al Ruwais to the deepwater ports of Jebel Ali in Dubai and Khalifa Port in Abu Dhabi. Hazeem Sultan Al Suwaidi, CEO of Borouge, commented, “This agreement builds on our long-standing collaboration with ADNOC L&S, a partnership that has been instrumental in meeting the evolving needs of our customers in high-growth markets. “It brings significant benefits to Borouge; driving substantial operational cost savings and enhancing our Logistics Variable Cost (LVC), as well as complementing our existing rail operations and expanding the flexibility of our supply chain network. With the rapid increase in our production capacity, we are advancing our capabilities in delivering differentiated products and solutions efficiently, while keeping pace with rising global demand.” As Borouge plans to ramp up production capacity by 1.4 million tonnes per annum by the end of 2026 through its Borouge 4 mega project, Borouge will become the world’s largest single-site polyolefin complex. The partnership with ADNOC L&S will further enhance Borouge’s supply chain efficiency as well as reinforcing ADNOC L&S’ commitment to delivering innovative, integrated supply chain solutions that enhance trade, strengthen industrial resilience, and support the UAE’s vision for economic diversification and global leadership. Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said, “This comprehensive container terminal agreement marks a major milestone in our successful partnership with Borouge, delivering on ADNOC L&S’ strategy to provide seamless, end-to-end logistics solutions that power the UAE’s industrial growth and export ambitions. By leveraging our extensive maritime and logistics expertise, we are ensuring that Borouge’s world-class petrochemical products reach global markets efficiently and competitively.” ADNOC L&S’ integrated logistics capabilities include managing container terminal operations, feeder services, and logistics solutions to meet increasing global demand. The agreement comes as ADNOC L&S continues to grow its international presence, providing comprehensive logistics solutions for global customers across various sectors. To Promote your Products and Services on SaudiGulf Projects, please visit "Advertise" Section
oil-gas
Jun 11, 2025
Wood Group Awarded $2.8 Billion Epcm Contract In Uae
Saudi Gulf Projects
Wood Group Awarded $2.8 Billion Epcm Contract In UaeJohn Wood Group PLC (‘Wood’) announces that it has been awarded a contract by ADNOC to deliver an engineering, procurement and construction management (EPCm) package for the long-term gas processing facilities at the UAE’s Habshan facility. The value of the contract is $2.8 billion. The contract value includes pass through revenue, with Wood anticipated to recognise c $400 million of revenue through EPCm services. Wood’s scope includes the delivery of substantial upgrades and debottlenecking solutions to the existing Habshan and Habshan 5 gas processing mega-complexes and pipelines, including brownfield modifications and the installation of new facilities. The Rich Gas Development (RGD) project will increase efficiency and modernise the facility to support increased gas output from ADNOC’s upstream expansion. Habshan is one of the largest gas process complexes in the world. Ken Gilmartin, CEO at Wood, said: “ADNOC Gas’ RGD programme is pivotal to the UAE’s energy security strategy and broader economy. We’re proud to be at the heart of such a significant initiative. “Wood gained extensive knowledge of Habshan delivering the front-end engineering design and we will deliver the EPCm phase while the facilities remain fully operational in order to sustain critical gas supply. “This win reinforces our position as a leader in highly complex engineering and project delivery solutions at considerable scale.” The project will be delivered by more than 500 Wood engineering, project management and commissioning specialists based in Abu Dhabi with support from the company’s global engineering hubs. This scope is due to complete at the end of 2027. To Promote your Products and Services on SaudiGulf Projects, please visit "Advertise" Section
oil-gas
Jun 10, 2025
Adnoc Gas Awards $5 Billion Contracts For Rich Gas Development (Rgd) Project
Saudi Gulf Projects
Adnoc Gas Awards $5 Billion Contracts For Rich Gas Development (Rgd) ProjectUAE’s ADNOC Gas Plc , a world-class integrated gas processing and sales company, announced it has taken a FID and awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) Project, marking a key milestone in the company’s largest-ever capital investment. EPCM contracts have been awarded in three tranches for phase 1. The first tranche, valued at $2.8 billion, has been awarded to Wood for the Habshan facility. The remaining two tranches – $1.2 billion for the Das Island liquefaction facility and $1.1 billion for the Asab and Buhasa facilities – have been awarded to two consortia: Petrofac; and Kent Plc. The contracts involve expanding key processing units to increase throughput and improve operational efficiency across four ADNOC Gas Facilities: Asab, Buhasa, Habshan (Onshore), and the Das Island liquefaction facility (Offshore). The company intends to take FIDs on two additional phases of the RGD project at Habshan and Ruwais to enable the delivery of greater production capacity to meet growing market demands. The RGD project will enable the development of new gas reservoirs, which are key to boosting liquid gas exports, supporting gas self-sufficiency in the UAE, and providing essential feedstock to the country’s growing petrochemical industry. Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: “The FID and contract awards for the first phase of the Rich Gas Development project mark a significant milestone in ADNOC Gas’ strategy to deliver +40% EBITDA growth between 2023 and 2029. This strategic investment is expected to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees, and the UAE.” Phase 1 of the RGD project focuses on optimizing and debottlenecking existing gas assets while unlocking new and valuable gas streams. As part of ADNOC Gas’ long-term strategy, which is focused on growth and futureproofing its business, the RGD project aligns with the company’s vision to deliver important growth initiatives between 2025 and 2029. Additionally, the RGD project highlights ADNOC Gas’ commitment to enhancing In-Country Value (ICV), with plans to create hundreds of new, field-based technical positions by 2029, further contributing to the UAE’s economic growth. To Promote your Products and Services on SaudiGulf Projects, please visit "Advertise" Section
oil-gas
Jun 10, 2025