20/08/2023
Oil and Gas Industry/Opportunities Updates.
The Middle East is expected to commence 621 projects between 2023 and 2027, according to data from GlobalData Energy. Out of these, upstream projects would be 81, midstream would be 141, the refinery at 84, and petrochemicals would be the highest with 315 projects.
New build projects are expected to lead the upcoming project landscape in the Middle East, constituting around 78% of the total projects across the value chain. The share of new build projects is especially high in the petrochemicals sector accounting for 60% of the total new build projects across the value chain. On the other hand, expansion projects dominate the downstream (refineries) sector with 43%.
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