Kuwti Manages a $237 Billion Project Portfolio

Ahmad Maghribi

The value of the project market in Kuwait reached $237 billion at the end of the period from August 22 to September 18, 2026, according to the latest data from MEED’s Gulf Projects Index. The portfolio recorded a decline of 1.6%, equivalent to approximately $4 billion, compared to the previous month.

MEED Projects data measures the total value of planned and ongoing projects in the market. Consequently, the index’s movement differs from the value of contracts awarded each month, as the market may witness new awards while the total portfolio value decreases due to changes in the status and values of listed projects.

On the front of new awards, Kuwait recorded a major contract worth $1.1 billion in August 2026, related to the Dabdaba Energy Project and the third phase of the Shuqaiya Renewable Energy Complex – Zone 1, with a capacity of 1.1 gigawatts. This project constituted the most prominent Kuwaiti award included in regional contract statistics for August.

Data for the same period also show continued activity in the tendering and awarding of other projects in the oil, electricity, and infrastructure sectors within Kuwait.

In parallel with local awards, August witnessed exceptional activity in the Druce field project, located in the offshore shared zone between Kuwait and Saudi Arabia. The estimated value of contracts awarded for the development of the field reached approximately $6.9 billion.

Among these contracts, Khafji Joint Operating Company awarded a $3.4 billion contract to a consortium comprising Larsen & Toubro Energy Hydrocarbon and Saipem to execute Package 2B of the gas production project. Khafji Joint Operating Company is equally owned by Aramco Gulf Company and Kuwait Gulf Oil Company, the latter being a subsidiary of Kuwait Petroleum Corporation. According to MEED’s monthly classification, the Druce contracts were included in Saudi Arabia’s awards and not in Kuwait’s figure of $1.1 billion.