meed-logo

line1 line2 line3
SIGN IN / REGISTER

Saudi Arabia and US sign nuclear energy agreement

23 July 2026

Register for MEED’s 14-day trial access 

Saudi Arabia and the US have signed an agreement for cooperation on the peaceful use of nuclear energy.

The agreement was signed in Riyadh on 22 July by Saudi Energy Minister and Industry & Mineral Resources Minister Prince Abdulaziz Bin Salman and US Energy Secretary Chris Wright.

The agreement “aims to enhance cooperation between the two countries in the peaceful uses of nuclear energy and to facilitate the exchange of expertise, knowledge and technologies, contributing to strengthening bilateral cooperation in accordance with the highest international standards of nuclear safety, nuclear security and non-proliferation”, according to a statement carried by the official Saudi Press Agency.

“It also reflects the shared vision of both countries to expand cooperation in energy and future technologies while supporting sustainable development,” the statement said.

“The agreement builds on the historic strategic partnership between the two friendly countries and follows the announcement made during the visit of His Royal Highness Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud, Crown Prince and Prime Minister, to the United States in November last year, on the conclusion of negotiations on bilateral cooperation in the peaceful uses of nuclear energy,” it added.

“The agreement also builds on the long-standing energy cooperation between the two countries, supporting efforts to diversify energy sources, advance cutting-edge technologies and expand opportunities for cooperation and investment in ways that serve the mutual interests of the two friendly countries,” the statement concluded.

Saudi nuclear ambitions

Nuclear development is a core component of the Saudi Vision 2030 goal of transitioning away from complete fossil fuel reliance.

Generating domestic electricity via nuclear power will allow Saudi Arabia to export more crude oil. Rapid population growth and heavy energy consumption in the industrial and household sectors – together with water desalination needs – require major power grid expansions.

The kingdom holds significant domestic uranium deposits, estimated at over 90,000 tons, which it intends to leverage for an independent fuel cycle.

In 2011, Riyadh announced plans to build 16 nuclear reactors over 20 years. The target was later revised to an initial goal of constructing two large-scale 1.4 gigawatt-electric (GWe) commercial reactors, with a long-term goal of 17 GWe of capacity by 2040.

Implemented via the Saudi National Atomic Energy Project, the strategy moved from rapid building to a focused framework: large commercial plants, small modular reactors, fuel cycle development and regulatory structures.

The government established the Nuclear Energy Holding Company in February 2022 to act as the primary commercial developer for the projects.

Separately, Saudi Arabia is advancing preparations for its first commercial nuclear power plant as part of its Vision 2030 strategy, with Khor Duwaiheen – identified as the lead site for a planned 2.8GW facility – now moving towards the procurement phase.

MEED previously reported that Riyadh had held technical and commercial negotiations with shortlisted vendors including EDF, Rosatom and Korea Hydro & Nuclear Power.

The project client, Saudi Arabia’s King Abdullah City for Atomic & Renewable Energy (KA-Care), has set and extended the bid submission deadlines several times since 2022, with advancement understood to be dependent on "progress in bilateral government-to-government talks”.

Gulf nuclear energy moves

The UAE was the first country in the GCC, as well as in the entire Middle East and North Africa region, to tap into nuclear energy for civilian use, having built and commissioned the Barakah nuclear power plant in Abu Dhabi in September 2024.

Operated by the Emirates Nuclear Energy Corporation, the Barakah nuclear plant consists of four reactors, each with a capacity of 1.4GW, providing 40 terawatt-hours (TWh), equivalent to about 25% of the UAE’s base power load.

In September last year, the plant completed its first year of full-fleet operations, generating more than 120 TWh of clean electricity since Unit 1 began operating.

Separately, Bahrain is also exploring the use of nuclear power for domestic consumption, as well as for the potential export of surplus, as MEED recently reported. State energy conglomerate Bapco Energies is tasked with studying the prospect of building a modular nuclear power plant in the country.

According to sources, the proposed project is being led by BeVentures, the venture capital arm of Bapco Energies, which was launched in July 2024.

Under the plan that is being studied, power produced by the nuclear facility will be supplied mainly to major industrial complexes in the country, such as Aluminium Bahrain (Alba) and Bapco Refining, for the clean production of aluminium and refined products, respectively, in line with Bahrain’s ambition of achieving net-zero emissions by 2060.

BeVentures has, in turn, approached global consultancy firms such as Bechtel, Fluor, Kent, Technip Energies and Wood to assist with concept study and early-stage planning and assessment for the modular or small nuclear power project.

Bapco Energies and BeVentures are also considering tapping into private financing and equity partnerships, in part or in full, for the proposed project, sources told MEED.

The Paris-based International Energy Agency’s Net Zero by 2050 roadmap indicates that nuclear energy will nearly double its share by 2050, with annual capacity additions reaching 30GW in the 2030s.

At the 28th UN Climate Change Conference, Cop28, which was held in Dubai in 2023, more than 20 countries pledged to triple nuclear capacity by 2050, with banks and nuclear industry players signalling their support for the pledge more recently.

The Organisation for Economic Co-operation & Development's Nuclear Energy Agency recently said that global nuclear capacity will triple by 2050 only under its most transformative scenario, with the Gulf's reactor procurement decisions among the projects that will determine which path the industry takes.

Acccording to the Nuclear Energy Outlook, China and Russia hold a strategic advantage in the international market, with Chinese-designed reactors accounting for 85 GWe of projects and Russian-designed reactors accounting for 57 GWe, more than half of which are export projects in countries including Egypt, Hungary and Turkiye.

ALSO READ: Nuclear tripling target hinges on delivery

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

Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
To see previous issues of MEED Business Review, please click here
https://image.digitalinsightresearch.in/uploads/NewsArticle/17731280/main.jpg
Indrajit Sen

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

Click here to register
Exclusive from Meed
Related Articles
  • Seven bid for Bahrain highway upgrade

    21 September 2026

    Register for MEED’s 14-day trial access 

    Seven contractors have submitted bids for the next phase of the Sheikh Jaber Al-Ahmed Al-Sabah Highway upgrade project.

    According to results published by the Bahrain Tender Board, the firms that have submitted bids include:

    • Nass Contracting Company
    • Haji Hassan Group
    • Almoayyed Contracting Group
    • Mohammed Abdulmohsen Al-Kharafi & Sons
    • Eastern Asphalt & Concrete Production
    • Cebarco Bahrain
    • Kingdom Asphalt

    The contract scope includes expansion works on 2 kilometres of the highway. It consists of a four-lane dual carriageway with service roads on both sides.

    The scope of works also includes excavation and backfill work, construction of stormwater drainage networks, a pumping station, installation of ducts for future utilities, upgraded street lighting, traffic signs and directional signage.

    The project aims to improve traffic capacity, reduce congestion and enhance safety along the transport corridor linking Manama with industrial zones.

    In April, MEED reported that Bahrain had approved a financing agreement framework to fund the construction of the next phase of the Sheikh Jaber Al-Ahmed Al-Sabah Highway upgrade.

    In March last year, the Kuwait Fund for Arab Economic Development and the Bahraini government signed a KD10m ($32.4m) loan agreement to fund the second phase of the project, which is expected to cost about $404m.

    This was followed in September 2025 by the appointment of US-based Parsons Corporation on a $1.5m contract to provide pre-contract engineering consultancy services for the project.

    According to data from regional project tracker MEED Projects, construction of the first phase was completed in 2020.

    A joint venture of local firm Nass Contracting and Kuwait’s KCC Engineering & Contracting undertook the main construction works.

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

    Nuclear power ambitions gather pace; Kuwait keeps dealmaking alive despite war; Region invests in raising gas processing capacity.

    Distributed to senior decision-makers in the region and around the world, the September 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/19847073/main.png
    Yasir Iqbal
  • Oman reveals Sohar airport and Salalah Thumrait Road plans

    21 September 2026

    Oman is planning a new passenger terminal at Sohar Airport to expand regional air connectivity and strengthen the airport’s role in the national aviation network.

    According to Said Bin Hamoud Al-Maawali, Oman’s minister of transport, communications and information technology, new routes are expected to be announced before the end of the year. Potential destinations include Dammam in Saudi Arabia, Gwadar in Pakistan, and southern Iran.

    The planned terminal and additional routes will give residents of northern Oman more travel options.

    Al-Maawali also provided an update on the long-delayed Salalah-Thumrait truck road, saying the project will be procured through a conventional tendering model rather than a public-private partnership (PPP).

    In August 2023, Oman shortlisted five of eight prequalified teams to compete for the Salalah-Thumrait truck road project, which was set to be the sultanate’s first PPP road project.

    The 67-kilometre road project is specially designed for heavy vehicles. 

    The road is a key link in Dhofar’s transport network, connecting Thumrait with Salalah and supporting movement between the interior and the governorate’s main urban and economic centre.

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

    Nuclear power ambitions gather pace; Kuwait keeps dealmaking alive despite war; Region invests in raising gas processing capacity.

    Distributed to senior decision-makers in the region and around the world, the September 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/19794881/main.jpg
    Yasir Iqbal
  • ADES completes acquisition of Saipem’s Saudi drilling business

    18 September 2026

    Register for MEED’s 14-day trial access 

    Al-Khobar-based ADES Holding Company has completed a transaction to acquire Italian oil and gas contractor Saipem’s shallow-water drilling subsidiary based in Saudi Arabia.

    Under the deal, ADES Saudi, an indirect subsidiary of Saudi Stock Exchange (Tadawul)-listed ADES Holding, will acquire Saudi Arabian Saipem, which operates a fleet of five jack-up rigs.

    The fleet includes three owned rigs – Perro Negro 7, Perro Negro 8 and Perro Negro 10 – as well as two leased rigs, Perro Negro 11 and Perro Negro 13. Four of the acquired rigs operate in Saudi Arabia, while Perro Negro 10 operates in Mexico under a charter structure and retains a valid contract in Saudi Arabia.

    ADES began the transaction to acquire Saudi Arabian Saipem in June, when it was estimated to be valued at about $285m. The deal was structured on a debt-free, cash-free basis, which was to be settled entirely in cash upon closing.

    Following completion, ADES operates a fleet of 128 units, comprising 88 offshore units – including 51 premium units – and 40 onshore rigs.

    The transaction also marks ADES’ entry into Mexico, extending the company’s international footprint to 21 countries, and adds approximately SR3.7bn ($992.9m) in backlog as of the completion date.

    The purchase of Saudi Arabian Saipem by ADES Holding follows the company’s takeover of Dubai-based, Oslo-listed Shelf Drilling in November last year, in a transaction valued at $379m. Following the completion of the cash merger, Shelf Drilling was wholly delisted from the Oslo Stock Exchange.

    The combined Shelf Drilling-ADES entity has been operating as a global player in shallow-water drilling in the world’s most prolific basins, with a fleet of 83 offshore jack-ups, including 46 premium jack-ups and 40 onshore rigs. The acquisition expanded ADES Holding’ global footprint from 13 to 19 countries, allowing entry and deeper operational integration into Southeast Asia, India, West Africa, the North Sea and the broader Mediterranean.

    Saudi Arabian Saipem generated revenues of SR636m ($170m) in 2025, highlighting the scale of the business being transferred.

    The divestment aligns with Saipem’s broader industrial strategy of reducing exposure to mature shallow-water drilling markets and concentrating resources on deepwater and harsh-environment offshore projects, where technical complexity and barriers to entry are generally higher.

    These segments have attracted growing investment in recent years as operators pursue offshore developments in regions such as the North Sea, Brazil, West Africa and the US Gulf of Mexico.

    For ADES, the acquisition further expands its presence in the Middle East offshore drilling market, particularly in Saudi Arabia, one of the world’s largest offshore jack-up rig markets, driven by activity from Saudi Aramco.

    Saipem previously said proceeds from the transaction will be used in accordance with the objectives outlined in its industrial plan. The Milan-listed company was advised on the transaction by Moelis & Company as financial adviser and Clifford Chance, together with AS&H Clifford Chance, as legal counsel.

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

    Nuclear power ambitions gather pace; Kuwait keeps dealmaking alive despite war; Region invests in raising gas processing capacity.

    Distributed to senior decision-makers in the region and around the world, the September 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/19795697/main5616.jpg
    Indrajit Sen
  • SAR tenders design review consultancy for GCC rail link

    18 September 2026

     

    Register for MEED’s 14-day trial access 

    Saudi Arabia Railways (SAR) has issued a request for proposals (RFP) for a design management and review consultant to oversee engineering works on the GCC railway network, the latest step in advancing the long-delayed regional rail link.

    The RFP was issued on 9 September, with a submission deadline of 18 October.

    The tender seeks a consultant to manage, audit and verify deliverables produced by SAR's separately appointed design services consultant, rather than carry out the design itself. The tendering for the design services consultancy is currently in progress.

    Construction will be tendered separately through competitive bidding once designs are approved.

    The GCC railway will run for about 672 kilometres (km) inside Saudi Arabia, linking the kingdom's existing network to Kuwait, Qatar, the UAE and Bahrain, with four sections of about 141km, 200km, 151km and 21km, respectively.

    The line is planned as a single-track, non-electrified corridor for mixed freight and passenger traffic, with a maximum axle load of 32.4 tonnes and passing loops for bidirectional working.

    The appointed consultant will develop a design management and review plan covering governance, interdisciplinary coordination and stage-gate approvals, and will issue formal review and audit reports against SAR's requirements and international standards.

    The scope also covers stakeholder engagement, interface management and oversight of land acquisition activity tied to the design consultant's land acquisition plan.

    Key design stages are expected to take about 16 months: four months for concept design, six for preliminary design and six for issued-for-construction design, each with four weeks of contingency.

    SAR has asked bidders to mobilise a core team from day one. These must include a project director, engineering and design manager, stakeholder manager and lead document controller, all based at SAR's offices, with minimum experience thresholds ranging from three years for junior operators up to 25 years, including 15 in rail, for the project director role.

    GCC railway line

    Under the overall plan, the railway will run from Kuwait, pass through Dammam in Saudi Arabia, reach Bahrain via a planned causeway, and continue from Dammam to Qatar, the UAE and, ultimately, Muscat via Sohar in Oman. The railway is reported to cover about 2,186km in total.

    The route length within each member state is as follows:

    • UAE – 684km
    • Saudi Arabia – 672km
    • Oman – 306km
    • Qatar – 283km
    • Kuwait – 145km
    • Bahrain – 36km

    The railway is designed for passenger trains travelling at 220 kilometres an hour (km/h) and freight trains operating at 80km/h–120km/h.

    With high levels of project activity, governments in spending mode and renewed cooperation under the Al-Ula Declaration, the latest efforts to restart the GCC railway project may make more progress than previous attempts. If completed, the railway could prove transformational for a region that is globally connected but still divided by national borders.

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

    Nuclear power ambitions gather pace; Kuwait keeps dealmaking alive despite war; Region invests in raising gas processing capacity.

    Distributed to senior decision-makers in the region and around the world, the September 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/19783331/main.gif
    Yasir Iqbal
  • Tender issued for Libyan gas project

    17 September 2026

    An invitation to bid has been issued for a contract to conduct environmental assessments for the project to expand the Mellitah oil and gas complex in Libya.

    The bid submission deadline is 2pm today (17 September) Libyan time.

    The scope of the project includes provision of:

    • An environmental baseline study (EBS)
    • An environmental impact assessment (EIA)
    • An environmental management plan (EMP)

    The client is Mellitah Oil & Gas (MOG), which is a joint venture of Italy’s Eni and Libya’s National Oil Corporation (NOC).

    MOG is based in Tripoli and operates both onshore and offshore oil and gas facilities.

    The joint venture owns and operates six major oil and gas fields across the North African country.

    According to the tender documents, the company that is awarded the contract will need to prepare environmental management measures in compliance with:

    • Libyan environmental legislation
    • Ministry of Environment requirements
    • NOC environmental guidelines
    • Applicable international environmental standards and best practices

    The expansion of the Mellitah oil and gas complex is part of a project estimated to be worth $8bn.

    The wider project is known as the Mellitah Complex Expansion & CO2 Management Integrated Development Project.

    It has six main packages:

    • Onshore package
    • Offshore Structure A
    • Offshore Structure E
    • Subsea pipeline package
    • Site preparation work
    • Carbon capture and storage facility

    Security issues and political instability have been a major problem for Libya’s oil and gas sector since the country’s civil war started in 2011.

    Earlier this month, the Mellitah oil and gas complex was forced to shut down temporarily due to a protest over deteriorating public services.

    The existing onshore complex includes housing, processing units, storage facilities and export facilities.

    It also serves as the launch point for the Greenstream pipeline, which delivers Libyan gas directly to Italy.

    The planned expansion of the complex will involve:

    • Construction of a new fourth gas processing train
    • Construction of a third condensate train
    • Construction of a third natural gas liquids fractionation train
    • Construction of a fourth sulphur recovery unit train
    • Installation of a hydrogen sulphide enrichment unit
    • Installation of a sulphur recovery unit
    • Construction of other associated facilities

    The Mellitah complex is located about 100 kilometres west of Tripoli and is a key energy facility in the west of the country.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/19748920/main.png
    Wil Crisp