Saudi Electricity Company (SEC) has received bids for the construction of Afif PV-1 and PV-2 380kV substations ..Read More

Saudi Electricity Company (SEC) has received bids for the construction of Afif PV-1 and PV-2 380kV substations and associated OHTL projects in central Saudi Arabia, part of the Kingdom’s expanding renewable energy infrastructure. Al Gihaz submitted the lowest bid (SAR 959.99M) for Afif-1, and Al Babtain (SAR 1.175B) for Afif-2. Al Sharif Group & KEC bid for two OHTL packages (~SAR 560M each), while Saudi Services for Electro Mechanic bid SAR 140M for the Afif PV-1 connection. These awards follow SPPC’s ongoing 4,500MW sixth-round RFP under NREP.
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• Power

ADES Holding Company has secured contract renewals and extensions worth USD 470 million for offshore jackup ri ..Read More

ADES Holding Company has secured contract renewals and extensions worth USD 470 million for offshore jackup rigs in Saudi Arabia and Egypt. In Saudi Arabia, a suspended rig has been renewed for a 10-year term, enhancing long-term revenue visibility. In Egypt, three rigs—Admarine III, V, and VI—operating with General Petroleum Company have received extensions: Admarine V for 3 years (plus 1-year optional), and Admarine III and VI for 1 year each with optional 1-year extensions starting in 2025–2026.
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• Oil & Gas

Aramco, Sinopec, and Yasref have signed a Venture Framework Agreement to develop a major petrochemical expansi ..Read More

Aramco, Sinopec, and Yasref have signed a Venture Framework Agreement to develop a major petrochemical expansion at Yasref in Yanbu, marking its 10th anniversary. The project includes a 1.8 million tons/year mixed feed steam cracker and a 1.5 million tons/year aromatics complex, integrated with the existing refinery. This aligns with Aramco’s strategy to convert up to 4 million barrels/day of crude into petrochemicals by 2030 and deepens its long-term partnership with Sinopec.
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• Oil & Gas

Saudi Arabia's Ministry of Energy announced the discovery of 14 new oil and gas fields and reservoirs by Aramc ..Read More

Saudi Arabia's Ministry of Energy announced the discovery of 14 new oil and gas fields and reservoirs by Aramco across the Eastern Province and the Empty Quarter. These include 6 oil fields, 2 oil reservoirs, 2 gas fields, and 4 gas reservoirs. Key finds include the Ayfan oil field (2,840 bpd), Ghizlan gas field (32 MMscf/day with 2,525 barrels of condensate), and multiple new reservoirs in the Marzouq field. These discoveries bolster the Kingdom’s hydrocarbon reserves, aligning with Vision 2030 and enhancing long-term energy security and economic growth.
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• Oil & Gas

AD Ports Group has signed a 10-year lease agreement with TW Steel to provide innovative containerized fabricat ..Read More

AD Ports Group has signed a 10-year lease agreement with TW Steel to provide innovative containerized fabrication solutions and container maintenance services at Khalifa Port. The collaboration will offer sustainable, energy-efficient solutions tailored to shipping lines and container operators, reducing container downtime and enhancing operational efficiency. The agreement supports Khalifa Port's growth as a major logistics hub, reinforcing its commitment to sustainability and world-class facilities.
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• Transport

Wood has secured a three-year reimbursable contract to provide specialist technical support to Petroleum Devel ..Read More

Wood has secured a three-year reimbursable contract to provide specialist technical support to Petroleum Development Oman (PDO), involving 65 engineering and project management experts—mainly Omani nationals—working on front-end energy transition and carbon capture projects. The team will be integrated into PDO’s FEED office and supported by Wood’s global expertise. This contract adds to Wood’s strong regional growth, following $920 million in contract awards across the Middle East in 2024.
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• Oil & Gas

Terra Drone, the world’s No.1 Drone Service Provider in 2024, has signed an MoU with Aramco to advance drone ..Read More

Terra Drone, the world’s No.1 Drone Service Provider in 2024, has signed an MoU with Aramco to advance drone, robotics, and AI-driven solutions in the oil and gas sector, focusing on safety, efficiency, and localization. The partnership supports R&D, tech piloting, training, and aligns with Saudi Arabia’s economic goals. Following Wa’ed Ventures' investment, Terra Drone established Terra Drone Arabia to localize services, build R&D facilities, and create skilled jobs. The MoU strengthens both firms’ commitment to innovation and Saudi Arabia’s Vision 2030.
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• Oil & Gas

Saudi Railway Company has announced a public tender for Lead Design Consultancy Services for the Saudi Landbri ..Read More

Saudi Railway Company has announced a public tender for Lead Design Consultancy Services for the Saudi Landbridge Railway Network. The consultancy will cover the Concept Design Stage, with an option for the Preliminary and IFC Design Stages. The 2,000km network will connect the Red Sea to the Gulf, linking the logistical zones of Dammam and Jeddah, enhancing trade between Asia, Europe, and the Americas. The bid submission deadline is May 15, 2025.
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• Transport