UAE engineering firm Kent heads for record order book despite Iran war

详细摘要

Kent, the Dubai-based energy engineering company owned by Saudi Arabia's Nesma & Partners, expects to end the year with a record order backlog as Gulf producers press ahead with…

Kent, the Dubai-based energy engineering company owned by Saudi Arabia's Nesma & Partners, expects to end the year with a record order backlog as Gulf producers press ahead with major projects despite months of disruption caused by the Iran war.

The company is on track to meet its revenue target of about $1.5 billion this year and deliver on earnings, chief executive John Gilley told The National in an interview in Abu Dhabi.

The war involving the US, Israel and Iran, which began in late February, has disrupted energy shipments through the Strait of Hormuz and damaged critical infrastructure across the Gulf. But it has also generated a wave of work for engineering contractors with a deep presence in the region, from repairing damaged plants to building export routes that avoid the strait. Rystad Energy estimates the cost of restoring energy infrastructure damaged in the conflict could reach $58 billion.

Kent is helping energy producers in Saudi Arabia, Qatar and the UAE assess damage to plants after the attacks. While some repairs are relatively minor, others require extensive planning before operations can resume.

"We're very proud of the fact that we'll probably hit budget this year at a time when supply chains have been massively disrupted," Mr Gilley said.

Kent's order backlog was nearly $3 billion by the end of 2025, much of it concentrated in Gulf countries, and was expected to reach a record by December.

Its contracts with Adnoc Gas are progressing, including a $1.1 billion deal to expand the Asab and Buhasa gas processing plants under Adnoc Gas's $5 billion Rich Gas Development project. Supply chain bottlenecks have slowed progress, but Kent still aims to deliver on schedule, Mr Gilley said.

Gulf producers are accelerating projects that allow them to export crude without passing through the Strait of Hormuz. Saudi Aramco has started work to expand its East-West pipeline to the Red Sea, while Adnoc is fast-tracking a new West-East pipeline to Fujairah on the Gulf…

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