New York, Oct. 26, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Middle East and North Africa (MENA) Oil and Gas Market 2020 - MEED Insights" -

Since 2011, more than $300bn of oil and gas project contracts have been awarded in the Mena region.

These investments have strengthened Saudi Arabia’s position as the world’s most influential oil exporter, and pushed Qatar into the number one spot for both liquefied natural gas (LNG) and gas-to-liquids (GTL) production.

Middle East oil and gas is entering an expansive period as regional firms undertake major field development programmes, expedite unconventional hydrocarbons exploration drives and work to secure their future market share in the industry.

About $652bn worth of oil, gas and petrochemicals projects planned or underway across the Mena region, according to regional projects tracker MEED Projects. Of this, some $392bn of projects have yet to have their main contracts awarded.

Current investments in upstream field exploration and production capacity this will lead to a significant expansion of the region’s oil production capacities of operators by 2025.

About $58.4bn of upstream oil projects currently under execution in Middle East and North African (Mena) countries. With many field discoveries expected to move into project development in late 2020, the region is expected to maintain a steady flow of capital expenditure towards upstream oil schemes.

Downstream, the Mena region is planning to add 2 million b/d of refining capacity by 2022.More than $200bn is expected to be ploughed into new refining and petrochemicals ventures in the GCC by 2025.

Seven major refinery schemes worth more than $40bn in total that are currently in the front-end engineering and design (feed) phase.

These investments offer abundant new opportunities for contractors, consultants and suppliers working in the oil, gas and petrochemicals sector in the region.

There is also considerable change taking place in the way work is being procured and delivered in the region. The drive to increase the value of local content in projects requires companies to procure people, goods and services from local sources where possible, while the need to increase energy efficiency and reduce carbon dioxide emissions is becoming an important aspect of projects.

This report is the latest premium market report from MEED, the leading provider of Middle East business intelligence.

The report provides a detailed analysis of the Middle East and North oil and gas market in 2020 and assesses the outlook for oil, gas and petrochemicals projects in 2020 and 2021.

The report has been updated to reflect the impact of Covid-19

This report provides a comprehensive analysis of the key trends, opportunities and challenges facing governments and businesses in the oil and gas sector at the start of 2020.

The report provides energy companies, contractors, suppliers, manufacturers and consultants with a powerful resource that will help them to identify new opportunities, set strategy, and mitigate risk in the Middle East and North Africa.

The report provides a comprehensive snapshot of the regional oil and gas projects market at the start of 2020 and examines the outlook for policy and investment in oil, gas and petrochemicals projects across the Mena region.

Written by MEED, the Middle East market experts within the Group, "Middle East and North Africa (MENA) Oil and Gas Market 2020" is of extreme high-value to anyone seeking to identify opportunities, understand risks and set strategy in the regional oil and gas projects market.

- Impact of Covid-19 on Middle East oil & gas
- Detailed assessment of the outlook for the oil, gas and petrochemicals projects market in the Middle East and North Africa
- Comprehensive review of 14 oil and gas markets across the Middle East and North Africa
- Outlook for policy and investment in oil, gas and petrochemicals projects across the region
- Projects opportunities with client and procurement details
- Investment drivers and client spending plans
- Understand risks and set strategy in the Mena oil and gas market

Reasons to Buy
- Understand the impact of coronavirus on Middle East oil and gas
- It informs strategy
- Identifies new and potential opportunities
- Highlights challenges in the market
- Helps you minimise risk.
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