{"id":105749,"date":"2026-02-11T00:00:00","date_gmt":"2026-02-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2026\/02\/11\/this-morning-saudi-us-consortium-eyes-major-energy-blocks-in-syria\/"},"modified":"2026-02-11T00:00:00","modified_gmt":"2026-02-11T00:00:00","slug":"this-morning-saudi-us-consortium-eyes-major-energy-blocks-in-syria","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/02\/11\/this-morning-saudi-us-consortium-eyes-major-energy-blocks-in-syria\/","title":{"rendered":"THIS MORNING: Saudi-US consortium eyes major energy blocks in Syria?"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people<\/strong>. Our big story in today\u2019s brisk issue looks at signs of the shifting dynamics between the Public Investment Fund and the private sector at this year\u2019s Private Sector Forum. Mining, utility, EV, and tech companies want partners who will put their money on Saudi\u2019s manufacturing and localization push, as the fund updates its strategy for the next five years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re hiring a technology reporter:<\/strong> EnterpriseAM is looking for a tech reporter to own the beat across Egypt, the UAE, Saudi Arabia, and beyond.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is a reporting job \u2014 not a desk job. <\/strong>You\u2019ll be working sources, breaking stories, and writing about trendlines (not just headlines) in our voice and with the authority our readers expect. AI and digital infrastructure are huge features of the beat, but our interests are broad: fintech, telecoms, regulation, SaaS, and the bajillion ways tech is reshaping how businesses operate across the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We want someone who can pick up the phone or WhatsApp<\/strong>, get people talking, and turn what they say into stories that senior decision-makers need to read. We also expect you to attend industry events and maintain relationships with PR folks across the industry without selling out. If you\u2019ve got 2-3 years of experience and the hunger to build a beat from the ground up, we want to hear from you. We\u2019re also interested in hearing from veteran reporters. Spoken Arabic is strongly preferred.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The role is based in Cairo<\/strong>, though we\u2019re open to remote for the right candidate. If you\u2019re reading EnterpriseAM, you know what we\u2019re about: A no-BS daily news outlet that tells busy execs, investors, founders, and ambitious people what they need to know about the trends shaping business, economy, finance, regulation, and public policy across our region. We write stories that have impact \u2014 about issues that matter \u2014 for a global audience of decision-makers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Do we sound like the type of place where you want work?<\/strong> Send your CV and three clips to jobs@enterpriseamea.com. Also enclose a great cover letter that tells us who you are, what you do, and why you\u2019d be a great fit for this job.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p class=\"tag-border-left\">Happening today<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> <\/strong><strong>The subsc<\/strong><strong>ription window for Kesay Clinics\u2019 Nomu IPO opens today<\/strong>, after the IPO was priced at SAR 15 per share. The company stands to raise SAR 30 mn in gross proceeds from issuing <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/26\/nomu-is-getting-its-first-2026-newcomer\/\" style=\"\">2 mn shares<\/a>, giving the clinic operator a market cap of roughly SAR 600 mn, according to our calculations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Once the books close on 22 February, the final share allocations are expected to be announced on 25 February.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Estidamah Capital is quarterbacking the transaction as financial advisor, with Derayah Financial serving as lead manager. RSM and Alzoman, Alfahad, & Alhajjaj Professional Services acted as auditors. Receiving agents include Alinma Capital, Alrajhi Capital, SNB Capital, BSF Capital, and Riyad Capital, among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Dust-filled winds will sweep across the Northern Borders, Al Jouf, Tabuk, Hail, Qassim, Madinah, and Riyadh, while fog blankets the highlands of Makkah, Al Baha, Aseer, and Jazan.<\/p>\n<ul>\n<li>Riyadh: 32\u00b0C high \/ 19\u00b0C low;<\/li>\n<li>Jeddah: 33\u00b0C high \/ 23\u00b0C low;<\/li>\n<li>Makkah: 35\u00b0C high \/ 23\u00b0C low;<\/li>\n<li>Dammam: 29\u00b0C high \/ 20\u00b0C low.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>ENERGY \u2014 A<\/strong><strong> Saudi-US alliance to tap Syria\u2019s energy fields? <\/strong>Two Saudi and three US-based energy firms are planning to form a consortium to explore and produce oil and gas in northeastern Syria, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-us-firms-partner-northeast-syria-energy-project-2026-02-10\/\" style=\"\">Reuters<\/a> reports, citing people it says are familiar with the matter. The group will include Acwa and Taqa, alongside Baker Hughes, Hunt Energy, and Argent LNG, covering four to five exploration blocs. An MoU is expected in the coming weeks, the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom has taken the reins of Syria\u2019s reconstruction<\/strong> after a Saudi delegation signed a sweeping slate of agreements worth bns of SAR in Damascus <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/02\/08\/saudi-arabia-takes-the-lead-in-syrias-multi-sector-reconstruction\/\" style=\"\">earlier this month<\/a>. The agreements spanned telecoms, infrastructure, and real estate, along with rebuilding Aleppo International Airport and launching a new joint airline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Data point<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> <\/strong><strong>8.9% <\/strong><strong>\u2014 that\u2019s t<\/strong><strong>he y-o-y increase in the Kingdom\u2019s Industrial Production Index (IPI) in <\/strong><strong>December 2025<\/strong>, supported by growth across mining and quarrying, manufacturing, and utilities, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/663.pdf\" style=\"\">data (pdf)<\/a> from the General Authority for Statistics. The index inched down 0.1% m-o-m from a strong <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/12\/saudi-industrial-growth-rides-on-oil\/\" style=\"\">November<\/a>.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel and Hassan Allam Properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\">logistics<\/a> industry, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\">MENA <> India<\/a> corridor?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/newsletters\/\" style=\"\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The big story abroad <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Recent Wall Street gainers have one thing in common \u2014 they are not tech: <\/strong>Amid <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/04\/egypt-tests-private-sector-appetite-for-affordable-housing-projects\/\" style=\"\">mounting<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/04\/egypt-tests-private-sector-appetite-for-affordable-housing-projects\/\" style=\"\">fears over AI advancements<\/a> superseding software firms, equities of formerly disfavored sectors <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/577b97f6-2416-48b9-9bd3-717bb202ca71\" style=\"\">have risen<\/a>, namely supermarkets, energy companies, and manufacturers. Investors have poured USD 62 bn into funds focused on non-tech stocks in recent weeks, outgrossing the USD 50 bn they attracted in the whole of 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Brokerages were not spared: <\/strong>Major US brokerages were also hit by the selloff \u2014 Charles Schwab, Morgan Stanley, and Raymond James <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1c63983f-5ff0-4b70-ad55-7e4334f59422\" style=\"\">saw shares sharply drop<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- US retail figures lag, raise doubts over spending: <\/strong>US retail sales during the December holiday season <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-02-10\/us-retail-sales-unexpectedly-stagnated-to-close-holiday-season\" style=\"\">remained flat<\/a>, suggesting that consumers remain held back by high living costs and job market precariousness.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ALSO- The subscription window for Kesay Clinics\u2019 Nomu IPO opens today<\/p>\n","protected":false},"author":1,"featured_media":105750,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2540],"tags":[448,2425,10,29,4889,1722,3023,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-105749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-acwa-power","tag-energy","tag-enterpriseam-ksa","tag-ipo-watch","tag-kesay-clinics","tag-syria","tag-taqa","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"108eb2b7-7d15-4474-9a54-4b4c4d49def7","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2026\/2\/726.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi-US consortium eyes major energy blocks in Syria?","related_issue":[105747],"teaser":"ALSO- The subscription window for Kesay Clinics\u2019 Nomu IPO opens today"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS MORNING: Saudi-US consortium eyes major energy blocks in Syria? 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