Read the July 2024 MEED Business Review

28 June 2024

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The GCC aims to position itself as a global frontrunner in the data-driven artificial intelligence (AI) era.

There are clear examples of AI becoming a key part of government policy and significant investments are being made as the GCC takes advantage of abundant, cheap energy and capital vigour.

Traditional businesses in the Gulf are seizing AI’s potential, too. In March 2024, for example, Saudi Aramco introduced Aramco Metabrain, a generative AI model trained on data accumulated over the past 90 years. The private sector, meanwhile, also recognises AI's benefits.

With AI promising to be a $1tn market by 2030, MEED takes an in-depth look at the GCC's proactive stance in our latest issue of MEED Business Review. Read why investment, combined with forward-thinking government policy, will allow the GCC to make a statement with AI here.

This month's exclusive 20-page market report highlights the Levant, where Jordan, Lebanon and Syria are contending with challenges amid heightened geopolitical tensions.

MEED's latest issue is packed with insight and analysis. The team examines how the Gaza conflict is testing diplomatic ties between the UAE and Israel; assesses the ways in which the GCC is striving to boost foreign investment in real estate; looks at how healthy financials are driving business growth for Adnoc Drilling; and discovers that good preparation and planning are key to successfully delivering Saudi Arabia's pipeline of mega-events.

This month's issue also features coverage of MEED's 2024 Saudi Giga Projects Summit, which showcased the schemes that are driving the kingdom's ambitious Vision 2030 economic diversification strategy.

The July issue also includes an interview with Pierre Santoni, president of Europe, Middle East and Africa for Parsons Corporation, in which he discusses how ongoing infrastructure investment in the region continues to offer strong growth opportunities for the construction industry. 

We hope our valued subscribers enjoy the July 2024 issue of MEED Business Review

 

Must-read sections in the July 2024 issue of MEED Business Review include:

AGENDA: Region plays high-stakes AI game; Data centres meet upbeat growth

> CURRENT AFFAIRS: Gaza conflict tests UAE–Israel ties

INDUSTRY REPORT:
GCC real estate
> GCC strives to reach real estate potential

> OIL & GAS: Healthy financials drive Adnoc Drilling business growth

> INTERVIEW: Ambitious projects rebrand engineering

> LEADERSHIPDelivering Saudi Arabia’s pipeline of mega-events

> LEVANT MARKET REPORT:

JORDAN
> COMMENT: Jordan manages to maintain its balance

> GOVERNMENT: Jordan policymakers walk tightrope
> OIL & GAS: Jordan refinery project delay is major setback
> POWER & WATER: Jordan's utility sector buckles up
> CONSTRUCTION: Modernisation drives Jordan construction

LEBANON
> COMMENT: Lebanon’s economic fate is in limbo
> GOVERNMENT: Lebanon marks two years without government
> ECONOMY: Lebanon economic recovery postponed

SYRIA
> COMMENT: Syria’s reconstruction agenda stalls
> GOVERNMENT: Gaza conflict reignites violence in Syria
> ECONOMY: Regional diplomacy fails Syrian economy

MEED COMMENTS: 
> Kuwait sends a signal with refinery ceremony
SLB’s Libyan crisis clouds outlook for oil sector
Silicon plant boosts UAE industrial and net zero plans
No time to lose in getting AI right

> GULF PROJECTS INDEX: Gulf projects market continues climb

> APRIL 2024 CONTRACTS: Contract awards value bounces back in May

> MARKET SNAPSHOT: Mena oil and gas industry trends

> OPINIONItaly at centre of new reduced Europe

BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts

To see previous issues of MEED Business Review, please click here
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MEED Editorial
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    The US-based oilfield services company SLB, formerly Schlumberger, has passed the technical bid evaluation for a major project to develop Kuwait’s Mutriba oil field.

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    The minimum passing technical evaluation score was 75%.

    The full list of bidders was:

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    The decision was finalised at a meeting of the Higher Purchase Committee (HPC) of state-owned Kuwait Petroleum Corporation (KPC) on 20 November 2025.

    According to a document published earlier this year by KOC, the IPM tender for the Mutriba field aims to “accelerate production through a comprehensive study that includes economic feasibility evaluation, well planning and long-term sustainability strategies”.

    The field was originally discovered in 2009.

    Commercial production from the Mutriba field started earlier this year, on 15 June, after several wells were connected to production facilities.

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    In order to start producing oil at the field, KOC deployed multiphase pumps to increase hydrocarbon pressure and enable transportation to the nearest Jurassic production facilities in north Kuwait.

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    Once this facility was commissioned, production stabilised at 5,000 b/d and 7 mmscf/d.

    In documents published earlier this year, KOC said that starting production from the field had “laid a solid foundation” for the IPM contract by generating essential reservoir and surface data that will guide future development.

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    Saudi Arabian Railways (SAR) is expected to float another multibillion-riyal tender to double the tracks on the existing phosphate railway network, connecting the Waad Al-Shamal mines to Ras Al-Khair in the Eastern Province.

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    Saudi Arabia’s Defence Ministry (MoD) is preparing to award the contract to build a new headquarters building, as part of its P-563 programme in Riyadh.

    MEED understands that bid evaluation has reached advanced stages and the contract award is imminent.

    The MoD issued the tender in April. The commercial bids were submitted in September, as MEED reported.

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    READ THE DECEMBER 2025 MEED BUSINESS REVIEW – click here to view PDF

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    Register for MEED’s 14-day trial access 

    Dubai Municipality has invited consultants to prequalify for a contract to provide supervision services on a major drainage infrastructure project serving developed communities in Dubailand.

    The sewerage and stormwater drainage project, listed under the code DS-204-S1, is being procured through the government’s Sewerage and Recycled Water Projects Department (SRPD).

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    READ THE DECEMBER 2025 MEED BUSINESS REVIEW – click here to view PDF

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