Midad Energy
Saudi Arabian energy investor-operator company
Midad Energy (Arabic: مداد للطاقة) is a Saudi energy investor‑operator headquartered in Riyadh, Saudi Arabia. The company operates across the oil and gas value chain, including exploration, development, production, and strategic energy investments. Midad Energy operates independently and is not affiliated with any holding group or larger corporate conglomerate.
History
On March 4, 2024, Midad Energy signed an agreement with Sonatrach, Algeria’s national state-owned oil company, to evaluate and develop gas fields in Illizi Province in southeastern Algeria. The production-sharing model agreement aims to accelerate hydrocarbon development and increase Algeria's gas reserves through investments financed by Midad Energy.
In October 2025, Midad Energy signed a contract with Sonatrach valued at approximately $5.4 billion for oil and gas exploration and development in the Illizi Basin in southern Algeria, located approximately 100 kilometers south of the town of In Amenas near the Libyan border.
Approximately $288 million of the investment was allocated to exploration activities. The agreement spans 30 years and targets production of approximately 933 million barrels of oil equivalent.
In December 2025, Midad Energy was among several companies, including ExxonMobil, Chevron, and The Carlyle Group, that submitted bids to acquire the Western-sanctioned international assets of Russian oil company Lukoil, Russia's second-largest oil producer. The assets were valued at approximately $22 billion and include oilfields, refineries, and thousands of fuel stations outside Russia.
The public source identifies “Midad Energy” as saudi Arabian energy investor-operator company. This brief keeps that definition visible, then builds a research path around Midad, Energy and Saudi.
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Contemporary correspondence, administrative files and participant testimony can test how later narratives organized the event or institution. The source revision retrieved here is dated Jun 16, 2026. The linked authority identifier is Q138775818. The first chronological checks are 2024 and 2025.
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This entry incorporates text from “Midad Energy” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.