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- Bahrain All Share Index, Islamic Index close lower
- NBK launches a new suite of updates and enhancements to its Mobile Banking App
- Global stocks drop at end of record year for markets
- Bank Muscat successfully manages OMR200mn Sovereign Sukuk Issuance
- Projects worth over OMR363mn awarded
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- UAE raises minimum wage for Emiratis to AED6,000 per month
- Bank Nizwa closes $519m Omani sovereign sukuk issue
- Gold set for best year in nearly half a century
- ACWA Power agrees to buy stakes in 5 China wind power projects
01/01/2026 04:02 AST
Saipem, a global leader in the engineering and construction of major projects, has announced that it has been awarded two offshore contracts worth $600 million in Saudi Arabia, known as Contract Release Purchase Orders (CRPO), under its existing Long-Term Agreement with oil giant Aramco.
The first contract (CRPO 162), with a duration of 32 months, encompasses the Engineering, Procurement, Construction, and Installation (EPCI) of approximately 34 km of pipeline, with diameters of 20" and 30", and related works on topside structures at the Berri and Abu Safah oil fields.
The second contract (CRPO 165), lasting 12 months, includes subsea interventions at Marjan field and the EPC of 300 m of onshore pipeline and associated tie-ins, said Saipem in a statement.
For the offshore operations Saipem will employ its construction vessels that are currently deployed in the region.
The fabrication activities related to the projects will be executed at Saipem's Saudi fabrication yard, Saipem Taqa Al-Rushaid Fabricators Co. Ltd., in Dammam, aiming to increase and develop the capabilities of local industry.
The award of these new contracts strengthens Saipem's presence in Saudi Arabia and further consolidates its longstanding relationship with Aramco, it added.
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Saudi-based Alhani Construction & Trading, Saudi Arabia has announced that work is in full swing at the landmark Aramco Stadium project in Al Khobar in the kingdom's Eastern Province and is on track
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| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| ADNOCGAS | 3.36 | 0.02 (0.59 |
| ADNOCDRILL | 5.49 | 0.09 (1.66 |
| BAHRI | 29.50 | 0.00 (0.00 |
| ADES | 16.97 | 0.12 (0.71 |
| NMDCENR | 2.40 | 0.01 (0.41 |
01/01/2026
As part of its steadfast commitment to delivering a best-in-class digital banking experience, National Bank of Kuwait (NBK) announced the launch of a suite of qualitative updates and enhancements to
Kuwait Times
01/01/2026
Bank Muscat announced that it successfully managed series 10 of the Sovereign Sukuk Issuance launched by Oman Sovereign Sukuk Company, with a total value of OMR200 million. The sukuk carries a 7-yea
ONA
01/01/2026
Oman's Bank Nizwa has announced that it had successfully closed the 10th series of local currency sovereign sukuk worth RO200 million ($519 million) acting as the joint issue manager and collecting b
Trade Arabia
01/01/2026
ACWA Power Co has announced its entry into China after securing more than 1 gigawatt (GW) of renewable energy projects, according to a stock exchange disclosure.
The company said it received
Trade Arabia
01/01/2026
Pay10 and First Abu Dhabi Bank (FAB) have gone live on Open Finance for its retail customers in the UAE, marking a key milestone in the UAE's Open Finance journey under the Central Bank of the UAE's
Khaleej Times
Financial Information Co.
Saudi Arabia