Regional energy investments to be dominated by oil and gas
The combined value of the oil and gas sectors in the GCC will comprise 83% of $470 billion of project investment between 2010 and 2014. The sectors, worth 47% and 36% respectively will dominate the industry’s energy supplies over the next five years, despite growing interest in renewable and nuclear energy projects. “The oil and […]
The combined value of the oil and gas sectors in the GCC will comprise 83% of $470 billion of project investment between 2010 and 2014.
The sectors, worth 47% and 36% respectively will dominate the industry’s energy supplies over the next five years, despite growing interest in renewable and nuclear energy projects.
“The oil and gas industry is expected to account for up to 83% of the total energy investments in the region within the next few years,” said Anselm Godinho, managing director for the organisers of the Arab Oil and Gas show (AOGS), who added that the long-term prospects for the GCC’s energy sector were “exciting”.
More than 300 suppliers for the industry will exhibit at AOGS, to be held in Dubai in September. The show will also feature an “excellence in engineering forum” and job fair.
“The region’s energy producers and leading service providers are always on the look-out for skilled manpower and quality professional development programs,” Godinho added.
Local demand for energy, in Saudi Arabia alone is expected to reach 120 gigawatts by 2032
