Middle East and North Africa (MENA) Energy Investment Outlook

Posted On March 22nd, 2018 - 10:16 am | by Oil and gas press

Total energy investments in the Middle East and North Africa could approach the 1 trillion US$ mark over the course of five years, according to the latest edition of the MENA Energy Investments Outlook published by the Arab Petroleum Investments Corporation (APICORP).

This is in spite of uncertainties that have been clouding the regional outlook.

While global investments in the industry continued their decline in 2016, down by 24% as compared to 2015, the MENA region is expected to see an increase of 7% in energy investment activity compared to data of the previous year.

Based on this evidence, the APICORP research team is cautiously optimistic for the MENA region. Governments continue to make investments in the energy sector a priority, and it is expected that a number of critical projects will be executed and completed successfully over the course of the next five years. Plans for power projects are at the top of the five-year agenda in many countries.

A total of US$337 billion had already been committed to projects under execution at the end of the previous year. With an additional US$622 billion worth of developments in the planning stage, the committed and planned investments could add up to US$959 billion over a five-year period, compared to US$900 billion in 2015.

Planned investments increased by 2%, whereas committed investments increased by 17%. This represents the transition of some projects and investments from the planned to committed phase.

The GCC countries are driving investment in the region and will be well positioned when oil prices begin to increase. Iran and Egypt also enjoy a promising outlook, with the former having vowed to make heavy investments into the upstream sector and the latter facing the challenge to meet rapidly rising power demand. Renewable energy projects will be at the forefront of efforts to meet power demand that is also increasing in Morocco, Tunisia and Jordan.

Source / More: Arab Petroleum Investments Corporation (APICORP)

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