News

It was a pleasure for HFI to be a sponsor at the well-attended EIC KSA Connect today in Dammam along with our local law network partner Dr Bader AlMutairi, FCIArb Founder & Managing Partner, AlSuwaiket and AlBusaiyes Co.

KSA remains one of the most prospective global energy markets and in the period to 2030 there were almost US$220bn of energy projects being tracked by the Energy Industries Council (EIC) Datastream.

EIC KSA Connect carried on the momentum generated by the iktva2025 Forum & Exhibition during which aramco signed 145 agreements and MoUs worth US$9bn with local and global partners and reported an iktva score of 67% in its procurement of goods and services in 2024 against a target of 70%.

The event was co-hosted by EIC with Al Sharqia Chamber of Commerce and featured keynote presentations from industry heavyweights Aramco, SABIC and ACWA Power and a run through of key projects in the petroleum, petrochemicals, renewables, desalination and hydrogen sectors.

Key themes included the development of King Salman Energy Park (SPARK) and the special economic zones including the maritime focussed zone at Ras Al-Khair, the continuing rollout of the iktva and Saudization programmes, the role of the Saudi Industrial Development Fund, the evolving taxation regime at ZATCA and recent changes to the foreign investment law under the jurisdiction of the Ministry of Investment of Saudi Arabia and to the companies law under the jurisdiction of the Ministry of Commerce.

It was a pleasure to meet up with many clients and connections including Alan Green, Regional Director, Middle East for Petrasco Energy Logistics (a Denholm Energy Services Company). Petrasco is a multi-disciplined logistics provider with a global reach with offices in the Middle East, USA and UK. In addition to air, sea and road freight services, they offer specialist expertise in consultancy, expediting, export packing, offshore logistics, warehousing and distribution.

It was also great to catch up with Stuart R Broadley - HonFEI and Ryan McPherson of EIC, Mai Ahmad at SDI and various GlobalScots including Robbie Pond and Steve Taylor.

EIC events for the diary ahead include Energy Exports Conference, 3-4 June in Aberdeen where Aramco will be a key presenter, EIC will be hosting a pavilion at the Saudi Maritime & Logistics Congress 1-2 October. EIC is also encouraging participation in its Survive and Thrive 2025 program which will culminate in this year’s WESCA awards.

HFI is currently supporting over 20 clients who have active or planned ventures in the Kingdom and we look forward to expanding and deepening our Saudi Arabia Ventures Initiative (SAVI) during 2025 – a copy of our latest SAVI eGuidebook can be obtained via sally.reeves@hfi-consulting.com.