EK and the A330 NEO?
 

According to most aviation publications, Airbus is going to announce the development of an A330NEO program with updated RR engines at the Farnborough Airshow in two weeks from now.

This A330NEO will be offered in two variants (mirroring the -200 and -300 series) and could be ready by as early as 2016.

With the cancellation of the A350 orders, is there a chance that EK will surprise us by ordering this revamped A330s?

There's routes that, at least at the moment, don't justify a B777. EK could go for the -300 variant and would already have crews and ground staff trained. Deliveries could start in about 2 years and could replace aging A330s. Fuel burn is rumored to be almost as good as a B787 (per pax) on most routes and Airbus would sell it at a very discounted price.

Any thoughts?

I agree, can see an order of 15 being a perfect fit.

Seems strange that they would develop an aircraft that is in direct competition with their own A350.

More than anything, it was Boeing's own 777-300ER that killed the 747.

The 330 Neo is not a threat to the 350-900 or -1000 it may just mean they don't build the -800 series. Pressure on airbus to produce the Neo in place of the -800 from numerous airlines.