Top Five GCC Offshore Oil Projects Revealedby Arabian Oil & Gas Staff on Sep 10, 2013
Offshore projects continue to grow in size throughout the region. This Month, OGME profiles the five biggest offshore projects in the Gulf and the players that are making them happen
The oil and gas industry is looking further and deeper offshore, as the projects continue to expand in size and capital spending, Oil&Gas Middle East takes a look at the five largest ongoing projects this year.
The primary driving forces behind our project power list are Saudi Arabia, Qatar and the UAE, where energy and infrastructure projects on a world-leading scale continue to forge ahead.
Other Gulf players such as Kuwait and Bahrain are also developing their offshore capabilities but their projects are being dwarfed by Saudi, Qatari and Emirati dreams.
At the top of our list is, of course, Qatar. Despite having entered the hydrocarbon sector later than its regional rivals, Qatar has emerged as the world’s leading gas giant, and that’s mostly due to its massive offshore reserves.
As the country looks to diversify its economy and become a global leader in other sectors, it will simultaneously need to increase its gas production capacity in order to feed its foreign markets while meeting demand at home.
Qatar’s ambitions have been matched by Saudi Arabia’s and of course, the UAE’s. The Jubail industrial city and the Al Wasit Gas programme have allowed the Kingdom to bolster its offshore activity even further.
As for Abu Dhabi, well, it’s become clear that the ADMA-OPCO is taking the development of offshore projects very seriously. The new Sarb Full Field Development project, the Umm Al Lulu and the Al Nasr project combined are expected to increase the emirate’s production capacity by 300,000 bpd, with a projected combined spend of over $10 billion.
This list was comiled with the help of Venture Middle East. Operating throughout the region, Ventures Middle East management consultants and market researchers are positioned to advise clients on issues allowing them to develop strategies that achieve and sustain a competitive advantage in the GCC, MENA. With their help, we proudly bring you this year’s top five offshore projects in the GCC!
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