Related Articles

• 
  Kuwait awards $565m upstream oil contract

  15 April 2026

  Kuwait’s Heavy Engineering Industries & Shipbuilding Company (Heisco) has been awarded a contract for flowlines and associated works in North Kuwait by the state-owned upstream operator Kuwait Oil Company (KOC).

  In a statement to Kuwait’s stock exchange, Heisco said it had received a formal contract award letter for the project, valued at KD174.2m ($565m).

  The contract was awarded under Tender No. RFP-2141028 and was approved by Kuwait’s Central Agency for Public Tenders.

  Heisco was the fourth-lowest bidder for the contract.

  In its stock market statement, Heisco said that the financial impact of the contract will be determined at a later stage, with further updates to be provided as the project progresses.

  Heisco has also signed a renewal agreement with a local bank for a KD50m ($165m) loan.

  The company said in a disclosure statement that the loan is intended to finance Heisco’s activities in Kuwait and other countries.

  “Our company has renewed the credit facilities agreement with one of the local banks to finance its activities,” it said.

  Earlier this month, Heisco submitted the lowest bid for a project to upgrade part of the Mina Abdullah refinery’s export infrastructure.

  It submitted a bid of KD11,919,652 ($38.6m) for the project to implement renovation works on the artificial island that forms part of the port at the refinery.

  The only other bidder was Kuwait’s International Marine Construction Company (IMCC), which submitted a bid of KD12,480,113 ($40.4m).

  Kuwait is currently seeing significant disruption to its oil and gas sector due to fallout from the US and Israel’s war with Iran.

  The Mina Abdullah refinery was integrated with the Mina Al-Ahmadi refinery as part of the $16bn Clean Fuels Project, which came online in 2021.

  Several units at the Mina Al-Ahmadi Refinery were shut down after the refinery was hit by drone attacks last month.

  ---

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

  Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

  Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

  > AGENDA: Gulf economies under fire > GCC CONTRACTOR RANKING: Construction guard undergoes a shift > MARKET FOCUS: Risk accelerates Saudi spending shift > LEGAL: Redefining the region’s arbitration landscape > QATAR LNG: Qatar’s new $8bn investment heats up global LNG race > INTERVIEW: Leyla Abdimomunova, National Development Division, PIF > LEADERSHIP: Shaping the future of passenger rail in the Middle East

  To see previous issues of MEED Business Review, please click here

  https://image.digitalinsightresearch.in/uploads/NewsArticle/16394808/main.png

  Wil Crisp
• 
  Sirte oil projects expected to progress in Libya

  15 April 2026

  

   

  Three oil projects located in Libya’s Sirte basin are expected to be prioritised in the wake of Libya’s recent budget deal, according to industry sources.

  The projects are being developed by Libya’s Waha Oil Company, a subsidiary of the state-owned National Oil Corporation (NOC).

  All three projects will develop Libyan reservoirs that have not yet been tapped.

  The projects are known as:

  • NC98
  • Gialo 3
  • 6J North Gialo

  Together, the projects are expected to double Waha’s production from around 300,000 barrels of oil a day (b/d) to 600,000 b/d.

  The Waha concession covers 13 million acres.

  The stakeholders in Libya’s Waha concessions include France’s TotalEnergies, which has a 20.41% stake, and US-based ConocoPhillips.

  In March, MEED revealed that South Korea’s Daewoo had pulled out of the tender process for Libya’s 6J North Gialo oil field development project.

  Daewoo had formed a partnership with Egypt’s Petrojet to participate in the tender process.

  The only other company to submit a bid for the project was UK-based Petrofac, which filed for administration in October last year.

  In September last year, MEED reported that two bids had been submitted for the project and were under evaluation.

  The 6J North Gialo project was the first to be tendered; it was expected to be followed by NC98, with the Gialo 3 project likely to be tendered last.

  The NC98 field is located in the southeast area of Libya’s Sirte basin. Waha Oil Company ran a technical workshop for the NC98 project in June 2023.

  The workshop included a presentation of a study conducted by TotalEnergies that considered different development options for injecting gas and water, as well as exporting gas.

  At the time, Waha Oil said that the project to develop NC98 was one of its “major strategic projects” and by implementing it, it hoped to raise production by an average of 60,000 b/d.

  The Gialo 3 project scope includes installing surface facilities to channel output to a new production unit. Three existing production units will also be upgraded as part of the project.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/16394706/main.png

  Wil Crisp
• 
  EtihadWE tenders feasibility study for UAE-India power link

  14 April 2026

  

   

  Etihad Water & Electricity (EtihadWE) has tendered a contract for a techno-economic feasibility study of a proposed UAE-India undersea power interconnector.

  The study aims to assess the long-term technical, economic and market viability of a power exchange between the UAE and India.

  The deadline for interested firms to purchase tender documents is 23 April.

  The proposed scheme would be the UAE’s first direct subsea cross-border electricity interconnector and the first direct power link between the UAE and India.

  In January, MEED exclusively reported that the utility was seeking consultants to register their interest in participating in the tender process.

  It is understood that firms may bid as single entities or as part of a consortium.

  According to the utility, the scope of work includes developing feasible interconnection options and defining design parameters and capacity.

  It will cover preliminary and survey-supported routing for the subsea cables and the identification of landing points and onshore transmission links.

  The study will also provide refined cost estimates, supply-chain and execution timelines, legal and regulatory reviews, commercial frameworks, risk identification, and support for the preparation of draft tender documents and technical specifications.

  In addition, it will outline bankable financing, ownership and operational structures as well as an implementation and operations schedule.

  Furthermore, the consultant will be required to assess the project’s impact on the grid and optimise interconnector capacity through sensitivity studies.

  https://image.digitalinsightresearch.in/uploads/NewsArticle/16385529/main.jpg

  Mark Dowdall
• 
  Malaysian contractor wins $299m Burj Azizi deal

  14 April 2026

  Malaysia’s Eversendai Corporation has secured a AED1.1bn ($299m) contract to carry out steel structure works on the Burj Azizi tower on Sheikh Zayed Road in Dubai.

  The contract was awarded by local real estate developer Azizi Developments.

  The main construction works on the tower are being carried out by Gardinia Contracting, a subsidiary of Azizi Developments.

  Construction of the 131-storey tower is under way and is expected to be completed by 2029.

  Azizi has appointed France’s Soletanche Bachy to perform the foundation works.

  MEED reported in July 2023 that Azizi Developments had announced plans to construct the Burj Azizi in Dubai.

  Previously, another Dubai-based developer, Meydan, had planned to build the 100-storey Meydan Tower on the same site, but the project was put on hold shortly after initial works began in 2017.

  In September 2022, Azizi Developments purchased a plot of land from Meydan on Sheikh Zayed Road next to World Trade Centre Metro Station 2. No further details were officially released at the time, although the developer said it was working on the design for a large, iconic development on the plot.

  In June 2023, Azizi Developments announced it would build what it called “Dubai’s newest seven-star hotel”.

  ---

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

  Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

  Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

  > AGENDA: Gulf economies under fire > GCC CONTRACTOR RANKING: Construction guard undergoes a shift > MARKET FOCUS: Risk accelerates Saudi spending shift > LEGAL: Redefining the region’s arbitration landscape > QATAR LNG: Qatar’s new $8bn investment heats up global LNG race > INTERVIEW: Leyla Abdimomunova, National Development Division, PIF > LEADERSHIP: Shaping the future of passenger rail in the Middle East

  To see previous issues of MEED Business Review, please click here

  https://image.digitalinsightresearch.in/uploads/NewsArticle/16384636/main.jpeg

  Yasir Iqbal
• 
  Local firm executing Yasref tail gas treatment project

  14 April 2026

  

   

  Yanbu Aramco Sinopec Refining Company (Yasref) is overseeing progress on a key project to build a tail gas treatment unit (TGTU) at its crude refinery complex, located in Yanbu on the west coast of Saudi Arabia.

  Yasref is a joint venture in which Saudi Aramco owns the majority 62.5% stake and China Petroleum & Chemical Corporation (Sinopec) owns the other 37.5%. The Yasref refinery was commissioned in 2015 and has a crude oil refining capacity of 400,000 barrels a day (b/d).

  The aim of the project, which Yasref calls the tail gas synergy project, is to significantly reduce emissions of sulphur dioxide (SO₂) and hydrogen sulphide (H₂S) from its production complex. The 'synergy' comes from integrating primary treatment (such as the Claus process, which typically recovers about 95-97% of sulphur) with advanced secondary treatment in a TGTU, to achieve overall sulphur recovery of nearly 99.9%.

  Yasref awarded the main contract for the tail gas synergy project to Jeddah-based contractor Carlo Gavazzi Arabia earlier this year, according to information obtained by MEED Projects, with the contract estimated at $80m.

  The local branch of London-headquartered Berkeley Engineering Consultants is acting as the project’s main consultant, according to MEED Projects.

  The scope of work on Yasref’s tail gas synergy project includes the following:

  • Construction of downstream TGTU with catalytic hydrogenation reactor and amine absorber train
  • Modification of existing sulphur recovery units
  • Construction of acid gas removal units employing amine solvent systems
  • Construction of desulphurisation units including carbonyl sulphide hydrolysis
  • Construction of associated utilities and auxiliary infrastructure: thermal exchangers, power and steam supplies, flare knockout drums
  • Installation of safety and security systems hydrogen sulphide detection, overpressure relief, firewater deluge, access control, safety instrumented systems
  • Integration of emission monitoring and process control instrumentation.

  In April last year, Aramco, Sinopec and Yasref signed a venture framework agreement for a potential petrochemicals expansion of the Yasref refinery complex into a major integrated petrochemicals facility. The project would include a large-scale mixed-feed steam cracker with a capacity of 1.8 million tonnes a year (t/y) and a 1.5 million-t/y aromatics complex, along with associated downstream derivatives.

  MEED understands that the Yasref petrochemicals expansion project, which is also referred to as Yasref+, is part of Aramco’s $100bn liquids-to-chemicals programme.

  The central ambition of the strategic programme is to derive greater economic value from every barrel of crude produced in Saudi Arabia by converting 4 million b/d of Aramco’s oil production into high-value petrochemicals and chemicals feedstocks by 2030.

  ALSO READ: Saudi downstream projects market enters lean period

  https://image.digitalinsightresearch.in/uploads/NewsArticle/16383830/main3043.jpg

  Indrajit Sen