Leading the global hydrocarbon industry with the proven supplies to last for severaldecades, the Oil and Natural Gas Industry in GCC countries of Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain is predominantly dominated by its sheer ability to regulate the global market with its much cherished resource “Oil” and off late “Natural Gas”. The hydrocarbon sector in GCC is quite a robust, highly promising industry forming the backbone of economic growth for over decades now despite the Governments’ ardent effort to diversify to achieve a balance. This volatile sector that had faced mild turbulence in the recent years owing to the Global economic slug is all set to unleash its complete potential in the coming years to cater to the gradual economic recovery. An approximate $400 bn worth of investments in the Gas and Oil sector are being planned and executed in GCC.
The gradually growing trend of natural gas being used as the alternative energy source to combat the volatility surrounding oil is witnessing a gradual growth in the GCC economy. Although not on par, growth in the natural gas sector is gradually picking up as a close second to the Oil sector in most GCC countries. Supported by the global focus on clean fuels, natural gas is settling in a niche slot as a secondary option to oil. GCC members are talking part in this shift to natural gas by heavily investing in gas exploration and production activities. Also there is growing prominence for the usage of renewable energy across the GCC countries as they are in a bid to counteract the rising pressures resulting from high fuel costs and dependence on a single energy source.
On the back of years of tracking both upstream and downstream development, and maintenance projects in the Oil and Gas sector, the team at Ventures Middle East aims to explore the dynamics surrounding the GCC Oil and Gas market in this study. The study in particular provides a regional perspective on the size and value of Oil and Gas sector covering the vital statistics on the production, consumption and reserves of Oil besides conducting a comparative analysis of economical growth contribution by the oil and gas sector. The study also provides a strategic assessment of the competitive landscape of Oil sector besides comparing the growth patterns in the gas and oil sector across all countries in GCC in addition to providing a trend analysis of oil pricing.
This study provides a comprehensive understanding the entire market dynamics of the Oil and Gas sector to assist players interested in assessing the market opportunities in this robust and dynamic market. To order a copy of the study please contactmail@ventures-me.com
