Arabian Drilling, Saudi Arabia’s largest drilling contractor by fleet size, has signed a contract with a new client in the GCC, marking its entry into another regional market. Operations are expected to begin before the end of the third quarter of 2026.
The GCC home entertainment market is expected to grow to $8.9 billion by 2034 with new consumer expectations pushing global technology brands to localise products, content discovery and connected experiences for the region.
Saudi-based Arabian Drilling has announced that it has signed a contract with a new client in the GCC, thus marking its entry into a new Gulf market. The deal follows the early completion of its first international offshore drilling contract and the redeployment of the jack-up rig to another GCC country.
Project awards in the GCC region for the second quarter surged to $59.4 billion, up 30% over last year supported by higher contract activity in Saudi Arabia and Oman, although activity slowed sharply from Q1, according to a report.
The GCC sovereigns’ stable credit quality is backed by strong, hydrocarbon-driven economic recovery in 2027. However, that prolonged geopolitical uncertainty could strain public finances and expose variances in sovereigns' fiscal ability to absorb lengthy disruptions, said S&P Global Rating.
Action Energy Company (AEC) and Kellton have launched a GCC joint venture to deliver AI-powered digital oilfield and IT solutions. The partnership will roll out Kellton’s OPTIMA platform, beginning in Kuwait before expanding to Qatar, Saudi Arabia, the UAE and Oman.
Armenia has extended its temporary visa-free entry scheme for eligible Gulf travellers until July 1, 2027, allowing qualifying GCC citizens and residents to visit without a visa for up to 180 days, subject to nationality and residency requirements.
The Gulf's wave of investment in new cities and mixed-use developments presents a major opportunity to expand on-site renewable energy, with large-scale projects able to meet up to 35% of their electricity demand through solar power, an industry expert said.
Large-scale urban developments across the Gulf could generate up to 35 per cent of their electricity needs through on-site solar power while reducing costs by a similar margin, according to a new report by Boston Consulting Group (BCG).
Liquidity-management instrument availability for Islamic banks has expanded across many core markets over the past decade, supporting funding needs, according to Fitch Ratings. However, gaps remain relative to conventional banks, more so in countries where Islamic banks remain niche.
