Development of unconventional gas reserves in Saudi Arabia and UAE has been named one of the main investment drivers for the MENA energy sector in 2020-2024. | 352 (July-August 2020)

Arab Petroleum Investments Corporation (APICORP) published its MENA Energy Investment Outlook 2020-2024.

2020-07-20 17:11 Views 125

It states that in 2020 the world was affected by the triple crisis - the COVID-19-related health and economic crisis and a possible looming financial crisis. As a result, capital costs were cut across the energy industry by at least 20%, particularly in oil and gas, opening the door for a possible wave of additional integration and mergers and acquisitions.

According to APICORP MENA Energy Investment Outlook, in 2020-2024 planned investments in MENA are expected to reach USD792bn, 18% down from the last year’s five-year outlook.

The major investment areas are:

- Saudi Arabia gas programs (USD39bn)

- Saudi Arabia power programs (USD41bn)

- Iraq reconstruction efforts, Gas-to-Power (USD33bn)

- Iran gas projects (USD48bn)

- UAE oil capacity maximization (USD45bn)

- Egypt new petrochemicals drive (USD38bn)

The state sector’s share in energy project investments will reach 81%.

The gas value chain registered the highest increase in planned investments compared to the 2019 outlook at USD28bn, or 13%, signaling the developing of unconventional gas in Saudi Arabia and United Arab Emirates (Jafura, Hail & Ghasha fields), and increasing production capacity in Qatar, Egypt and Oman.

In the petrochemicals sector, APICORP expects countries to consolidate their respective strategy in order to increase monetization and maximize value from the hydrocarbons they produce. Major investments in this sector include Duqm and Sur in Oman; Al-Zor in Kuwait; SATORP Amiral in Saudi Arabia; and the QCHEM Complex in Qatar.

You can find the full report by following the link:

https://www.apicorp.org/wp-content/uploads/2020/06/MENA-Energy-Investment-Outlook-2020-2024_FINAL_Final.pdf



Similar articles

Business
Oil Journal | 339 (October 2017) 2017 | Up, Up and Away!
2017-10-24 15:23

On September 23, LUKOIL President Vagit Alekperov joined Uzbekistan’s Prime Minster Abdulla Aripov for the official launch of new facilities at the Gi...read more

Strategy
Oil Journal | 340 (November 2017) 2017 | 2018: Recovery is on the way
2017-11-28 10:24

Participants of the 20th annual Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) expected a recovery in the oil industry’s fortune...read more

Strategy
Oil Journal | 332 (February 2017) 2017 | Vagit Alekperov: "We’re waiting for the government to allow private companies access to the Arctic shelf"
2017-04-14 13:45

Davos is a unique platform. Our company, and myself in particular, is a traditional participant in the discussions th...read more