meed-logo

line1 line2 line3
SIGN IN / REGISTER

Aramco reviews Iraq energy investments

24 July 2023

A delegation from Saudi Arabia that includes Mohammed Abdulrahman al-Ibrahim, assistant oil and gas minister, has reviewed investment opportunities in Iraq during a visit, according to a statement released by Baghdad.

Saudi Aramco officials accompanied the minister and reviewed “a number of investment opportunities in the gas and oil sector”, including both upstream prospects and refinery sites, the statement said.

It added: “The head of the delegation expressed his country's desire to participate and enter into a number of investment projects in the oil and gas sector in Iraq."

Discussions regarding Saudi participation in Iraq’s energy sector are expected to continue in the coming days, according to the statement.

Iraqi Oil Minister Hayan Abdul Ghani said: “This meeting comes as a continuation of the results of the visit of Prime Minister Mohammed Shia al-Sudani to the kingdom and the desire of the two countries to develop bilateral relations.”

He added that both countries should speed up the implementation of joint projects to serve the common interests of their people.

Investment in Iraq

Earlier this month, Saudi Arabia and the UAE allocated $6bn to expand international trade and investment in Iraq.

The president of the Federation of Iraqi Chambers of Commerce, Abdel Razzak al-Zouhairy, said: “The UAE and Saudi Arabia deposited $3bn each to support their operations in Iraq, which include trade and investment activities.”

In recent years, Saudi Arabia and the UAE have sought to use their own resources to try and reduce Iranian influence in Iraq.

In 2015, Riyadh began engaging Baghdad after the kingdom spent years trying to isolate Iraq.

That year, Saudi Arabia appointed an ambassador to Iraq for the first time since 1990.

Between 2017 and 2019, Riyadh’s top diplomat visited Baghdad and Saudi Arabia opened diplomatic missions in Baghdad and Basra.

In November 2020, the Arar border crossing was reopened following its three-decade closure.

Despite the efforts of Saudi Arabia and the UAE, Iraq still needs to maintain good relations with Tehran as it relies on Iran for gas and electricity imports.

Earlier this month, after several days of negotiations, Iraq signed a deal with Iran to pay for Iranian gas using Iraqi crude oil.

It was signed in Baghdad by Ehsan Yassin al-Awadi, the director of the office of Iraq’s prime minister, and Muhammad Kazem al-Sadiq, Iran’s ambassador to Iraq.

The Iraqi prime minister’s office said the deal had been made to address a “power-plant gas supply crisis” related to the complexities of US sanctions.

https://image.digitalinsightresearch.in/uploads/NewsArticle/11021524/main0107.jpg
Wil Crisp

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles
  • Morocco plans second high-speed rail phase to Agadir

    26 October 2026

    Morocco has outlined a second rail investment cycle for 2030-35, which includes beginning construction of a high-speed rail extension from Marrakech to Agadir and connecting Essaouira to the national rail network.

    The pipeline forms part of the government’s 2026-31 programme, presented to parliament last week.

    The Marrakech-Agadir link is estimated to cost close to MD55bn ($5.5bn) and will cover a 240-kilometre (km) route through the High Atlas Mountains via Chichaoua. Civil engineering structures, including tunnels and viaducts, are expected to account for nearly 70% of the alignment.

    In September, the government issued a decree declaring the Marrakech-Agadir and Chichaoua-Essaouira rail corridors to be of public utility, paving the way for land acquisition and expropriation procedures.

    Under the long-term masterplan Plan Rail Maroc 2040, Essaouira is expected to connect to the network via a separate line branching off at Chichaoua, designed for operating speeds of up to 200km an hour. The mainline to Agadir is designed for speeds of up to 320km/h.

    The 2030-35 cycle also includes rehabilitating the Casablanca-Khouribga-Oued Zem line; constructing a new line between Oued Zem and Beni Mellal via Bejaad, with a branch to Fquih Ben Salah; doubling and upgrading the 140km Benguerir-Safi line; expanding capacity on the Fez-Oujda corridor; and building new-generation passenger stations.

    The plans follow Morocco’s ongoing MD134bn ($13.4bn) 2024-30 rail investment programme, which focuses on completing the Kenitra-Marrakech high-speed line ahead of the 2030 Fifa World Cup.

    The programme also includes developing regional express network services across five regions, electrifying the Fez-Oujda line and completing a freight rail link to the Nador West Med port.

    Work on the Kenitra-Marrakech line had reached about 30% by May 2026, with commercial services targeted to begin in September 2029.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/20920349/main.jpg
    Yasir Iqbal
  • Riyadh tenders King Salman Stadium works

    26 October 2026

     

    Register for MEED’s 14-day trial access 

    Saudi Arabia’s Sports Ministry has tendered a contract covering early works at King Salman International Stadium in Riyadh.

    The scope includes enabling works, site preparation and initial construction activities.

    The tender was issued on 11 October, with a submission deadline of 19 November.

    The stadium will cover about 660,000 square metres (sq m) and seat 92,000. Facilities will include a 150-seat royal suite, 120 hospitality suites, 300 VIP seats and 2,200 dignitary seats.

    The wider development will include sports facilities covering more than 360,000 sq m, including two training fields and fan zones; a closed sports hall; an Olympic-sized swimming pool; an athletics track; and outdoor courts for volleyball, basketball and padel.

    The stadium is set to host the final of the 2034 Fifa World Cup and will serve as the Saudi national football team’s main base.

    US-based architectural firm Populous is the lead architect for the stadium.

    Construction of the stadium is expected to be completed by 2029.

    The stadium will be located next to King Abdulaziz Park.

    Firms submitted prequalification statements for the main design-and-build contract in February.

    Saudi stadium plans

    In August 2024, MEED reported that Saudi Arabia planned to build 11 new stadiums and refurbish four facilities for the 2034 Fifa World Cup. 

    Eight stadiums will be located in Riyadh, four in Jeddah and one each in Al-Khobar, Abha and Neom.

    A further 10 cities will host training bases: Al-Baha, Jazan, Taif, Medina, Alula, Umluj, Tabuk, Hail, Al-Ahsa and Buraidah.

    There are expected to be 134 training sites in the kingdom, including 61 existing facilities and 73 new venues.

    Saudi Arabia was officially selected to host the 2034 Fifa World Cup during an online convention of Fifa member associations at the Fifa Congress on 11 December 2024.

    READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Industry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.

    Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/20919233/main.jpg
    Yasir Iqbal
  • Aramco selects contractors for five offshore tenders

    23 October 2026

     

    Saudi Aramco has selected contractors for five offshore tenders covering the engineering, procurement, construction and installation (EPCI) of structures at the Abu Safah, Berri, Manifa, Marjan, Safaniya and Zuluf offshore oil and gas fields in Saudi Arabia.

    The tenders are numbers 167, 168, 169, 170 and 171 on Aramco’s Contract Release and Purchase Order (CRPO) system, and are estimated to be worth up to $2bn combined.

    Abu Dhabi government-owned NMDC Energy has won CRPOs 167, 169 and 171, while Italian contractor Saipem has secured CRPOs 168 and 170, according to sources.

    NMDC Energy confirmed its contract awards from Aramco in a disclosure to the Abu Dhabi Securities Exchange on 23 October, saying the three contracts are valued at AED2.8bn ($763.3m).

    Work on the contracts is expected to be completed in 18-23 months, NMDC Energy said in its filing, without providing further details.

    Saipem has yet to confirm its contract awards from Aramco.

    The basic scope of EPCI work on the tenders is as follows:

    • CRPO 167 – eight jackets at the Marjan field development
    • CRPO 168 – four production deck modules (PDMs) at the Abu Safah, Berri, Manifa and Safaniya fields
    • CRPO 169 – three PDMs at the Marjan field development
    • CRPO 170 – three PDMs at the Marjan field development
    • CRPO 171 – three PDMs at the Zuluf field development

    Aramco issued the five CRPOs to contractors in its Long-Term Agreement (LTA) pool of offshore service providers in December last year, setting an initial bid submission deadline of 3 February.

    The Saudi energy giant has since extended the bid submission deadline several times – to 31 March, 1 June, 1 July and then 30 July – to allow LTA contractors sufficient time to prepare proposals.

    At the request of some bidders, Aramco granted a final two-day extension, with LTA contractors submitting their proposals for the five CRPOs on 1 August, MEED previously reported.

    Aramco had previously indicated its intention to award contracts for CRPOs 167-171 by October, and the contract awards affirm it has adhered to this schedule.

    Aramco’s LTA pool of offshore service providers comprises the following entities:

    • Saipem (Italy)
    • McDermott International (US)
    • Larsen & Toubro Energy Hydrocarbon (LTEH, India) / Subsea7 (UK)
    • NMDC Energy (UAE)
    • Lamprell (UAE/Saudi Arabia)
    • China Offshore Oil Engineering Company (China)
    • Dynamic Industries (US)
    • Sapura Energy (Malaysia)
    • TechnipFMC (France) / MMHE (Malaysia)
    • Hyundai Heavy Industries (South Korea)

    In April 2025, Aramco renewed its LTAs with the following contractors, whose contracts had either lapsed or were close to expiry:

    • Saipem
    • McDermott International
    • Larsen & Toubro Energy Hydrocarbon / Subsea7
    • NMDC Energy
    • Lamprell
    • China Offshore Oil Engineering Company
    ALSO READ: Aramco upstream spending gathers pace

    READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Industry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.

    Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/20869888/main3523.jpeg
    Indrajit Sen
  • Contractors complete Riyadh airport Terminal 6 work

    23 October 2026

     

    Three contractor teams have completed the early contractor involvement (ECI) phase for Terminal 6 at King Salman International airport (KSIA) in Riyadh, moving the scheme towards a main construction tender and contract award.

    The participating consortiums are:

    • UCC Holding / Consolidated Contractors Company (Qatar/Greece)
    • Modern Building Leaders / Powerchina / Metallurgical Corporation of China (loca/China/China)
    • Al-Gihaz Holding / TAV Construction / Webuild (local/Turkiye/Italy)

    King Salman International Airport Development Company (KSIADC), a subsidiary of Saudi sovereign wealth vehicle the Public Investment Fund, is delivering the terminal package on an ECI basis.

    Under the completed phase, the shortlisted teams submitted detailed construction methodologies and technical design proposals.

    Terminal 6 is planned to boost the airport’s annual capacity by 40 million passengers. KSIADC aims to complete the terminal ahead of Expo 2030 Riyadh.

    In May last year, MEED reported that US-based Bechtel had been appointed as delivery partner for the passenger terminals at KSIA.

    KSIADC's acting CEO Marco Mejia previously confirmed that the airport’s masterplan has been completed. UK-based Foster + Partners designed the masterplan, including the terminals, six parallel runways and a multi-asset real estate district.

    US-based engineering firm Jacobs is providing specialist consultancy services for the masterplan and runway design, while UK-headquartered Mace is acting as delivery partner for the broader development. Local firm Nera secured the airspace design consultancy contract.

    The KSIA project covers about 57 square kilometres (sq km) and incorporates the existing terminals at King Khalid International airport. The scheme will feature 12 sq km of airport support facilities, residential and recreational zones, retail assets and logistics parks.

    The development is targeted to handle up to 120 million passengers a year by 2030 and 185 million passengers by 2050, in addition to an annual cargo throughput of 3.5 million tonnes by 2050.

    READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Industry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.

    Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/20860938/main.jpg
    Yasir Iqbal
  • Aramco seeks to build sulphur-handling facilities at Ras Al-Khair

    22 October 2026

     

    Saudi Aramco is engaging developers for a planned project to build sulphur-handling facilities at Ras Al-Khair port on Saudi Arabia’s eastern coast.

    Under the build-own-operate-transfer (BOOT) contract, the selected developer would be required to build facilities at Ras Al-Khair port capable of receiving, handling, forming and exporting up to 9,500 metric tonnes a day (t/d) of molten sulphur.

    Additionally, the appointed contractor would be responsible for engineering, procurement and construction, as well as operations and maintenance.

    According to sources, the Saudi energy giant floated the tender for the Ras Al-Khair sulphur-handling facilities project last year. Companies bidding for the BOOT contract have until 30 December to submit proposals, with the previous bid-submission deadline being on 19 September.

    The following developers, among others, are understood to be bidding for the Ras Al-Khair sulphur-handling facilities project:

    • Jereh Group (China)
    • Lamar Holding (Saudi Arabia)
    • Vision Invest (Bahrain/Saudi Arabia)

    Separately, Aramco has appointed Germany-headquartered Fichtner as the consultant on the project.

    The broad scope of work on the project includes development, design, financing, construction, commissioning, testing, ownership, insurance, operations and maintenance of:

    • an onshore sulphur handling and processing station, comprising rail and truck sulphur unloading, molten sulphur storage and sulphur forming facilities;
    • a sulphur exporting station / berth facilities located at berth number 19 at Ras Al-Khair port, comprising formed sulphur storage and a ship loader, with a rail spur system to connect to the Saudi Arabia Railway line to deliver the molten sulphur to the onshore facility, and a sulphur conveyor system to transfer the formed sulphur from the onshore facility to the berth facility;
    • starting from the commercial operation date, the sale of the dependable capacity to Aramco and, to the extent dispatched by Aramco, the formed sulphur output of the plant; and
    • the transfer of the shares in the project company, or alternatively the dismantling and removal of, or transfer of, the plant to Aramco.

    The allocated area for the plant is 1.605 million square metres (sq m), which includes 1.5 million sq m allocated to the onshore facility and 105,000 sq m allocated to the berth facility. The project operator is required to accommodate adequate space for any potential capacity expansion.

    The land for the onshore sulphur station facility is under the jurisdiction of the Royal Commission for Jubail & Yanbu, while the berth plot is under the administration and management control of the Saudi Port Authority (Mawani).

    ALSO READ: Lamprell signs Ras al-Khair fabrication deal for Saudi offshore job

    READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Industry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.

    Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/20842631/main3523.jpg
    Indrajit Sen