GCC project awards rise 2.5% in 9 months on gas, chemicals surge: Kamco
- GCC project awards reached $204.1 billion in the first nine months of 2026, a 2.5% increase from the previous year.
- Gas awards surged by 59.9% to $13.5 billion, while chemical awards increased nearly fivefold to $3.5 billion.
- Saudi Arabia led the GCC in project awards with $24.4 billion, followed by the UAE at $15.6 billion and Qatar at $5.2 billion.
- Despite a decline in third-quarter project awards to $47.4 billion, the sector is expected to recover in the long term due to strong gas and chemical demand.
- Saudi Arabia's total project awards fell to $73.4 billion, though gas awards increased by 80.1% to $6.9 billion.
- ADNOC awarded a $1 billion contract for the Umm Shaif Gas Cap and Surface Pressure Boosting project, boosting UAE gas awards to $6.2 billion.
