Saipem's Epic Rig Shake-Up: Ditching Shallow Waters for Deep-Sea Glory!

The Big Deal Goes Down

Saipem just signed a game-changing agreement with ADES Saudi Limited Company. They are selling their full stake in Saudi Arabian Saipem Limited (SAS), which runs a cool fleet of jack-up rigs like Perro Negro 7, 8, 10, plus leased ones 11 and 13. 

In 2025, SAS pulled in revenues of SAR 636 million (about USD 170 million). The buyer pays USD 285 million cash on a debt-free basis, and Saipem plans to use those funds to fuel its industrial strategy.

Smart Moves Ahead

Next, the parties will set up a bareboat charter so Saipem keeps using Perro Negro 10 for operations in Mexico and meets all commitments smoothly. 

This transaction sharpens Saipem’s focus on deepwater and harsh-environment drilling. It strengthens their edge in high-value segments. Completion is expected by Q3 2026 after regulatory nods. What a bold pivot! 

Chinese Titans Storm Saudi Sands: Hospital Jackpot Hits Al Khobar!

Big Wins in the Desert Heat

Chinese contractor Zhejiang Construction International just clinched a massive 994 million riyal ($265 million) deal to build a 60,000 square metre speciality hospital for Prince Mohammed bin Fahd University in Al Khobar. Moreover, this project features a 10-floor hospital, two interconnected five-floor support buildings, and a basement. Workers will handle everything from detailed design and construction to landscaping, mechanical works, and installing top medical equipment.  

Saudi Healthcare Boom Goes Global

Construction kicks off and should wrap up in three years. Additionally, this victory follows other huge Chinese successes like the Eight billion riyal Superblock Five project. Prince Mohammed bin Fahd University, founded in 2006, expands facilities to boost medical education and clinical services. Thus, Saudi Arabia keeps investing heavily in healthcare to match rapid population growth and urban development.  

Jereh NER Just Dropped a Green Bomb in Kuwait's Oil Fields!

Epic Win in the Desert Sands

KUWAIT CITY,- Recently, Jereh New Energy Regeneration and Recycling Technology Co., Ltd. (Jereh NER) signed an oil-based drilling cuttings treatment service contract with Kuwait Oil Company (KOC). 

Moreover, this massive deal tops RMB 100 million and runs for five thrilling years! They crushed tough competition from over a dozen global giants by showcasing unbeatable tech and seamless execution. 

Tech That’s Saving the Planet

One Cuttings Pile at a Time

Jereh NER’s world-class equipment blasts through 12 tonnes per hour, dropping oil residues below 0.3% while slashing energy use by over 18%. 

With 20+ years of expertise spanning oilfield cleanup to battery and blade recycling, they operate in 60+ countries. Thus, this Kuwait victory launches them toward even bolder sustainable energy adventures across the Middle East!