Project Insight - Oil and Gas Construction Projects: Middle East and Africa
The mature markets of the Gulf Cooperation Council (GCC) countries are showing low investment in oil and gas construction projects due to the known reserves in the region, over supply from the existing production facilities and the effects of the prolonged period of low oil prices since 2014 which has inhibited investment.
The development of new oil and gas facilities in sub-Saharan Africa is expected to be high, with Nigeria leading the region in project investment in seventh place globally, with US$177.7 billion, and Mozambique and Angola investing in oil and gas facilities.
Timetric’s Construction Intelligence Center (CIC) is currently tracking oil and gas construction projects in the Middle East and Africa with a total value of US$1.1 trillion. Of this, US$397.0 billion is in the execution stage.
Nigeria accounts for the highest value with US$177.7 billion, followed by Iran with projects valuing US$124.9 billion. Iraq and Saudi Arabia follow with oil and gas projects with a value of US$119.3 billion and US$92.3 billion respectively.
The region's highest project investment is in production facilities buildings with a value of US$444.9 billion followed by refinery buildings with a value of US$402.4 billion. The highest value projects are the US$33.0 billion Bonga Field Extension, followed by Iraq with the US$30.0 billion Majnoon Full Field Expansion.
The report provides analysis based on CIC projects showing total project values for the Middle East and Africa and analysis by stage and funding for the top 10 countries.
The top 50 projects are listed for the region giving country, stage, value and cu mt per day capacity if known.
Values by six types of project categories are given, e.g. refinery buildings and pipelines.
Ranked listings of the top participants for the sector are also provided showing the leading contractors, consulting engineers and project owners.
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