Oil majors roll out new policies and investments – MEED
- Date: 03-Oct-2022
- Source: MEED
- Sector:Oil & Gas
- Country:Saudi Arabia
Oil majors roll out new policies and investments – MEED
Gulf states drive a surge in project spending to expand their upstream and downstream production capacity, following windfall from oil and gas exports
Energy producers in the Middle East and North Africa (Mena) region have been buoyed by robust oil and gas prices in 2022, a fact that is reflected in both their profitability and capital expenditure budgets for the year.
About $14.1bn-worth of oil and gas contracts were awarded in the first half of 2022, of which nearly half was contributed by Saudi Arabia’s market, driven by awards for the Zuluf oil field development.
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