meed-logo

line1 line2 line3
SIGN IN / REGISTER

Middle East contract awards: January 2024

22 February 2024

 

The region kicked the new year off with $30.5bn of contract awards, which is the biggest value ever recorded in the first month of the year since MEED began tracking contract awards in January 2014. 

Six countries in the region recorded contract award values above $1bn, led by Saudi Arabia with $11bn. The oil sector saw the biggest value of deals signed at $8.1bn followed by the construction industry with $7.4bn.

Saudi Arabia

The biggest contract awarded in Saudi Arabia in January stems from the Neom gigaproject. Italian contractor WeBuild secured an estimated SR20bn ($5bn) contract to build dams that will create an artificial lake at the heart of the Trojena mountain resort, which is due to host the Asian Winter Games in 2029.

In December 2023, the value of work already awarded at Neom was only a fraction of the hundreds of billions of dollars-worth of expected contracts that have yet to be inked. About $21bn of contracts have been tendered, while the majority of projects have entered the design stage.

UAE

The UAE recorded the second-biggest value of deals let in January, with $7.9bn of awards. The largest deal signed was a $2.4bn contract awarded by Abu Dhabi National Oil Company (Adnoc) to Egyptian contractor Engineering for Petroleum & Process Industries (Enppi) to build a west-to-east pipeline to transport crude oil produced in Abu Dhabi to the UAE’s northern emirate of Fujairah.

Download the Middle East contracts awarded for January 2024
Qatar

Qatar saw the third-largest value of deals signed in January at $5.1bn, spurred by four awards worth a total of $6bn for engineering, procurement and construction (EPC) works on the Ruya project, which aims to increase oil production from the Al Shaheen offshore oil field by about 100,000 barrels a day (b/d).

The winner of the biggest package, valued at $2.1bn, was a consortium of the US’ McDermott and Qingdao McDermott Wuchuan Offshore Engineering Company.

Following the conclusion of the Fifa World Cup 2022, the expectation now is that Qatar will resume its development plans and start awarding major contracts.

There are currently several strategic projects in the country’s pipeline that are expected to provide renewed impetus to the construction and transportation market and present opportunities to contractors in the short term.

Egypt

Egypt saw $1.98bn of deals signed in January, with the largest comprising two chemicals contracts worth a total of $2bn. The contracts are for phase three of a nitrogen fertiliser and phosphate industrial complex project in Egypt’s Ain Sokhna region and were won by a team of Petrojet and Ballestra and a team of Petrojet and Wuhan Engineering.

Oman

Oman, meanwhile, recorded $1.96bn of awards in January, the biggest an $800m contract for the Marsa liquefied natural gas (LNG) terminal. French energy major TotalEnergies selected Technip Energies to build the LNG bunkering and export terminal in Oman’s northern city of Sohar. 

Kuwait

Kuwait saw $450m of contracts signed in January, most of which was due to a $442m deal let by the Electricity & Water Ministry for the rehabilitation of the Al Zour South power and water distillation station. 

Algeria

Algeria rounded out the list of countries that recorded more than $1bn in contract signings in January, with $1.2bn of deals signed. The country saw 1GW of solar photovoltaic contracts awarded during the month by state-owned Algerian Renewable Energies Company (Shaems). Algeria expects the solar projects to generate $3.2bn-$3.6bn in investment.

Related reads:
Iraq

Iraq recorded $605m of deals inked in January, with the biggest a $400m contract awarded by the Oil Ministry to Petrochina for the Nahr Bin Omar gas utilisation project.

Tunisia

Tunisia recorded a contract award value of $200m off the back of a single deal – a design-and-build contract for the construction of a 2.1-kilometre viaduct linking Tunis and Bizerte, let by the Equipment, Housing & Land Planning Ministry to China’s Sichuan Road & Bridge Group. The European Investment Bank and African Development Bank are co-financing the project.

Jordan

Jordan saw $137m of deals signed in January, the largest an $80m contract inked by the country’s water authority for package one of a project to construct sewer networks, pumping stations and force mains in areas of Karak. 

Kuwait

Kuwait recorded $127m of awards in the first month of the year, the largest a $42m contract awarded by the Electricity, Water & Renewable Energy Ministry to South Korea’s Taihan Electric Wire Company for the supply and installation of 400kV overhead lines running from Khairan to Wafra and Sulaibiya. 

Bahrain

Bahrain, meanwhile, saw a single $69m deal signed in January, let by the Electricity & Water Authority to TBEA Shandong Luneng Taishan Cable Company for the construction of a 400kV grid substation and 220kV subsystem in Jasra. 

Libya

Libya also recorded a single contract award for the month – a $64m deal signed by the Libyan Administration of Roads & Bridges with Egypt’s The Arab Contractors for the reconstruction of two bridges in the city of Derna.

For more up-to-date information on the region’s largest projects, go to MEED Projects, which tracks trillions of dollars-worth of schemes.

MEED Projects is a subscriber-only service that provides comprehensive, up-to-date and accurate project information. It monitors industry and business development opportunities through market data tailored to your needs.

Be the first to know about new projects; we provide the data so you can win the business. If you would like to see a demo of MEED Projects, or just want to find out more, register your details online or call +971 (0) 4 818 0200.

https://image.digitalinsightresearch.in/uploads/NewsArticle/11523334/main.gif
Sneha Abraham

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

Click here to register
Exclusive from Meed
Related Articles
  • Chinese contractor wins Morocco solar plant deal

    10 August 2026

    China Harbour Engineering Company (CHEC), a subsidiary of China Communications Construction Company (CCCC), has won a contract to build a solar photovoltaic (PV) power plant in Fez in northern Morocco.

    Known as GreenPower Morocco 4 (GPM4), the project is being developed by Moroccan company GPM Holding through its utility-scale solar subsidiary GPM Parks.

    The project covers engineering design, equipment procurement and installation, construction of an operation and maintenance building, grid connection and commissioning. It also includes upgrades to the associated substation.

    According to CHEC, the completed plant will supply electricity to the local grid, although it did not disclose the project’s capacity or contract value. 

    The project is being developed under Law 13-09, which provides Morocco’s framework for private renewable energy generation.

    According to its website, GPM Holding is also developing another solar PV project called GreenPower Morocco 2 (GPM2). This follows the completion of its first solar project, the 34MW project (GPM1) commissioned in Tangier in 2024. 

    GPM1 was developed by Green Power Morocco, a special purpose vehicle owned by GPM Holding and UAE-based Amea Power. The $30m project covers 75 hectares and includes 91,000 PV panels. It is expected to generate about 66,149MWh a year.

    The project has a 25-year power purchase agreement in place with Amendis, a subsidiary of Veolia Morocco. PowerChina was the main engineering, procurement and construction (EPC) contractor.

    Chinese contractors have previously been involved in other projects in Morocco’s renewable energy sector.

    Shandong Electric Power Construction Company (Sepco 3), a subsidiary of PowerChina, was part of the EPC consortium for the 200MW Noor 2 concentrated solar plants and 150MW Noor 3 concentrated solar power projects at the Noor Ouarzazate complex.

    New contract awards have been limited in Morocco in 2026, although six solar PV plants are now in the execution stage under phases one and two of the 305MW Noor Atlas solar PV programme.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/18263680/main.jpg
    Mark Dowdall
  • Aramco puts out fire at Jizan refinery after Houthi strike

    10 August 2026

    Saudi Aramco said it had extinguished a fire that broke out at its Jizan refinery on Saudi Arabia’s Red Sea coast after the facility was hit in drone strikes by Yemen-based Houthi rebels on 9 August.

    The kingdom’s Ministry of Energy said the fire occurred at an Aramco refinery facility in Jizan and that emergency authorities had completed the necessary procedures to deal with the incident.

    The energy ministry did not say what started the fire, saying only that the incident caused no injuries.

    The Houthi rebels later claimed responsibility for the attack.

    The province of Jizan lies close to Saudi Arabia’s border with Yemen and has repeatedly been targeted by the Houthis in attacks on the kingdom’s energy infrastructure.

    The strike on the Jizan refinery was the second attack on the facility by the Houthis in as many weeks. Aramco shut the refinery on 27 July following a similar drone strike, which, according to media reports, damaged the integrated gasification combined-cycle unit and tank farm at the complex.

    On a call with investors to discuss Aramco’s second-quarter results, CEO Amin Nasser said recent attacks on the company’s facilities in the world’s top oil-exporting country had caused some disruption to production, but that he was confident operations could be restored quickly. He said the attacks had had no material operational or financial impact.

    Jizan refinery complex

    Saudi Aramco’s sprawling Jizan refinery complex entered operations in 2021.

    Aramco undertook the estimated $16bn-plus project in late 2010. The scheme consists of a refinery with an output capacity of 400,000 barrels a day (b/d), a major marine terminal and a 4GW combined-cycle power plant in Baish, in Saudi Arabia’s southwestern Jizan region.

    The Jizan refinery covers an area of 12 square kilometres. The complex processes Arabian Heavy and Arabian Medium crude grades to produce 80 million b/d of gasoline, 250 million b/d of diesel and more than 1 million tonnes a year of petrochemical products such as benzene and paraxylene.

    A multiple-pier marine terminal supports the supply of crude oil from oil fields located mainly in the kingdom’s Eastern Province to the refinery, as well as the export of surplus refined products to overseas markets. The terminal has been designed to accommodate very large crude carriers.

    A 4,000MW combined-cycle power plant uses approximately 90,000 b/d of vacuum residue from the refinery to generate electricity, hydrogen and water for the refinery, while conveying excess power to the national grid.

    The hydrocracker unit comprises two parallel trains with a combined capacity of 54,500 b/d. The diesel hydrotreater plant comprises two trains, each with a capacity of 87,500 b/d.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/18262347/main.jpg
    Indrajit Sen
  • Shamal picks Dutco for Dubai Zoo site homes

    10 August 2026

    Dubai-based Shamal Holding has awarded local contractor Dutco Construction the main construction works contract for a low-rise residential project on the site of the former Dubai Zoo in Jumeirah 1.

    The project will comprise 90 low-rise homes and is designed as a residential leasing community that will remain under Shamal’s ownership, with all homes offered for premium leasing.

    The development will retain mature trees from the former zoo and is planned around shared courtyards, landscaped open spaces and a central park. Residents will have access to a clubhouse, wellness area, children’s play area, family pool, lounge and gym.

    The architect is DXB Lab. The local H&H is the development manager for the project.

    Dutco has previously worked with Shamal on infrastructure elements of the Dubai Harbour and Dubai Harbour Marinas developments.

    Shamal’s wider real estate portfolio includes the Naia Island, Dubai Harbour and Nad Al-Sheba Gardens developments. The company also holds hospitality and leisure assets, including partnerships with Jumeirah, Hilton and Baccarat, and operates attractions such as Skydive Dubai and Deep Dive Dubai.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/18262386/main.png
    Colin Foreman
  • WEBINAR: Mena Oil & Gas Projects Market 2026-27

    10 August 2026

    Webinar: Mena Oil & Gas Projects Market 2026-27 
    Thursday 27 August 2026 | 11:00 AM GST  |  Register now

    Agenda:

    • Summary of the Mena oil, gas and petrochemicals projects market 
    • Overview of major megaprojects, including project programmes
    • Analysis of active contracts and spending to date
    • Review of top contracts by work already awarded
    • Long-term capital expenditure outlays and forecasts
    • Key contracts expected to be tendered and awarded over the next 18 months
    • Leading clients, contractors and market participants
    • Spending by segment: oil, gas and petrochemicals (upstream, downstream, onshore and offshore) 
    • Audience Q&A 

    Hosted by: Indrajit Sen, MEED’s oil & gas editor

    Click here to register

    https://image.digitalinsightresearch.in/uploads/NewsArticle/18260597/main.gif
    Indrajit Sen
  • Spanish firm renews Yanbu desalination O&M contract

    10 August 2026

    Spain’s Aqualia has announced it has renewed a contract to operate and maintain three floating desalination plants in Yanbu on Saudi Arabia’s Red Sea coast.

    The contract was awarded by the National Shipping Company of Saudi Arabia (Bahri) and will run until 14 September 2028, with an option to extend for a further two years.

    The three reverse osmosis (RO) plants are mounted on barges and have a combined production capacity of 150,000 cubic metres a day (cm/d). Each plant has a capacity of 50,000 cm/d.

    The three plants were originally deployed at Al-Shuqaiq and are designed to be relocated along Saudi Arabia’s coastline according to water demand. The barges are currently located at Yanbu.

    The $255m floating desalination project was commissioned for the Saudi Water Authority in 2022, with Bahri as the developer and UAE-based Metitio as the main contractor.

    Bahri is publicly listed on the Saudi Exchange but has significant government ownership, with the Public Investment Fund (PIF) holding 22.5% and Saudi Aramco Development Company owning 20% of the company.

    Aqualia is providing operation and maintenance services in Saudi Arabia through its joint venture Haji Abdullah Alireza Integrated Services Company (Haaisco), in which it holds a 51% stake.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/18259350/main.jpg
    Mark Dowdall