Mubasher: Qatar has ambitious plans to invest in the oil and gas sector, especially the development of the Bul Hanine oil field, whose output is forecast to double in the near future.
Current committed investments of the world’s biggest exporter of liquefied natural gas (LNG) in the energy sector reached $13 billion, while Qatar’s power sector accounts for the largest share of investments in the region with total investments of $187 billion.
The development of Barzan gas field is one of the mega projects coming in line with the Arab Petroleum Investments Corporation's (Apicorp) outlook, the Peninsula Qatar newspaper reported.
Moreover, the Persian country intends to invest an additional amount of $251 billion in planned projects over the coming few years. Energy projects under contract bids amount to $92 billion, while those under design are worth around $86 billion.
Excluding Qatar, GCC member states' planned projects are expected to hit $57 billion, the newspaper said.
Oman’s planned projects are focused on the downstream and petrochemicals sectors, with the Duqm petrochemicals complex forecast to see a large portion of its $9 billion budget invested over the next five years.
It is worth noting that the Middle East and North Africa (MENA) region has injected around $345 billion in projects under execution, added to $574 billion for planned projects.
