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