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MENA Project Tracker — Iraq gas project receives 7 bids; TRSDC, AREIC form JV for $400m Red Sea resort

RIYADH: Iraqi oil and gas company Gulf Keystone Petroleum has received seven bids for its planned gas management project at the Shaikan Field, MEED reported citing the company’s chief executive Jon Harris. The $250 million gas management project involves developing a third production facility at the field as well as a gas gathering pipeline, it added. “Most of the third


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$400m contract awarded to develop 159-key Red Sea resort

The Red Sea Development Company (TRSDC), the developer of Red Sea Project, has entered a SR1.5-billion ($400 million) joint venture with Almutlaq Group to develop a 159-key luxury resort at the ambitious regenerative tourism destination in Saudi Arabia.

TRSDC signs first JV worth $400m with Al Mutlaq Group

RIYADH: The Red Sea Development Co. has signed a joint venture agreement worth SR1.5 billion ($400 million) with Almutlaq Real Estate Investment Co., a subsidiary of the Al Mutlaq Group. Under the agreement, the two companies will develop the Jumeirah Red Sea, a 159-key luxury resort situated on The Red Sea destination’s hub island, Shura, currently under construction and

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