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Market snapshot of Mena oil and gas

1 October 2023

Key points: 

> PROJECTS BY VALUE: Saudi Arabia has the largest share of all active oil, gas and chemical projects, followed by Iran and Iraq. Egypt is the largest market in North Africa. The UAE and Qatar are the second and third-largest markets in the GCC.

> TOP PROJECT OWNERS: The list of top clients is led by national oil companies with Saudi Aramco ranked first. Qatargas is second due to its mammoth liquefied natural gas expansion programme.

> TOP CONTRACTORS: European contractors continue to dominate the regional engineering, procurement and construction market, with Japanese and South Korean firms making a strong comeback.

> PLANNED PROJECTS: The value of planned gas projects has emerged as the largest segment, with chemicals following second, indicating changing capex trends.

> FUTURE CONTRACTS: There are multiple tenders at the bidding stage across the region’s upstream and downstream sectors.The UAE, Iraq and Saudi Arabia have the largest short-term pipeline.

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