Kent, an energy contractor, concluded 2025 with a record project backlog exceeding $3 billion, driven by robust spending in the Middle East, which contributes over $2 billion to this orderbook.

Core and Emerging Markets in the Middle East

Saudi Arabia, the UAE, and Iraq are identified as the three major growth markets and will remain significant. The UAE is a crucial market, highlighted by a recent $1.1 billion EPCM deal with Adnoc Gas and ongoing work involving over 2000 people on Adnoc projects. Kent is also part of multiple framework agreements in the UAE expected to yield key projects. In Saudi Arabia, termed an "extremely mature market," Kent participates in Aramco’s EPC champion programme, with over 400 people working on pre-FEED and FEED phase projects, indicating a strong and optimistic pipeline.

Iraq is growing in importance, with Kent operating several resources there. A key, long-term EPCM contract with the Basrah Gas Company provides security and a solid foundation for growth. Increased activity is anticipated, fueled by wider international oil company interest in Iraq's exploration and production market, aligned with the country's plans to boost oil production capacity.

Emerging opportunities are seen in Oman and Kuwait. Furthermore, Kent aims to tap into the North African market, specifically Libya, where a recent licensing round and anticipated uptick in exploration and development activity are expected to create opportunities for engineering contractors.

Strategic Framework and Service Model

The company participates in several framework agreements across the Middle East for pre-FEED, FEED, and Project Management Consultancy (PMC) projects. These long-term agreements are described as terrific models that provide clear visibility into customer needs and engagement methods, allowing Kent to set itself up for future success. Kent's specialized services include conceptual studies, FEED, project management consultancy, and EPCM projects.