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Kuwait Oil, Gas and Energy Update March 2015

Drake & Scull Leisure & Tourism Project of the Year – Kuwait

24 March 2015
The Avenues Grand MosqueKuwait Small Project of the Year

24 March 2015
Structural renovation of the Grand Mosque Subiya Hyder Consulting Transport Project of the Year – Kuwait

24 March 2015
Construction and maintenance of roads, bridges, storm water drainage, sewerage and other services for Subiyah Highway package 3 Petrochemicals EPC contract awards by country Kuwait ripe for expansion

19 March 2015 | By Wil Crisp
Progress on refinery megaprojects means the country can go ahead with plans to integrate petrochemicals facilities Gulf projects index
Middle East contracts awarded: February 2015

1 March 2015
Over $8bn of contracts awarded in February in the Middle East Kuwait simplifies investment laws Kuwait simplifies investment laws

24 February 2015 | By Philippa Wilkinson
New, transparent executive regulations and fast decision-making are hoped to facilitate an increase in foreign direct investment The overhaul of the refining sector is critical to Kuwait meeting its 2020 downstream targets Refining sector to get overhaul

24 February 2015 | By Wil Crisp
The newfound momentum in downstream contract awards is due to continue in 2015, but falling oil prices and land disputes could yet derail plans Kuwait nominal GDP Kuwait approves investment plan

24 February 2015 | By Andrew Roscoe
Kuwait has approved a new five-year development plan that is similar in ambition to its predecessor despite the plunge in oil prices. But this time it must deliver Kuwait has yet to find a solution for its stateless Bedouins Dealing with the stateless population

24 February 2015 | By Andrew Roscoe
Kuwait has yet to find a solution for its stateless Bedouins, who still lack access to healthcare, education and travel Kuwait desalination market Fresh confidence in PPP market

24 February 2015 | By Philippa Wilkinson
There is growing optimism in Kuwait’s projects market, with the newly established Kuwait Authority for Partnership Projects reviving power and water projects and taking responsibility for rail schemes

Egypt Oil, Gas and Energy Update March 2015

Egypt announces discovery in Western Desert

5 April 2015 | By Wil Crisp
Recoverable hydrocarbons include both oil and gas Mixed-use development Egyptian developers sign agreement

2 April 2015 | By Hossam Abougabal
New mixed-use project announced near Cairo Road in Ethiopia Egyptian firms encouraged to enter Ethiopian market

2 April 2015 | By Hossam Abougabal
Egypt and Ethiopia meet on the sidelines of regional summit and agree to encourage better relations between the two countries Egypt oil
BG’s Egypt production drops by 44.6 per cent

2 April 2015 | By Wil Crisp
Company says future project investments in Egypt remain uncertain Egypt construction boom Hassan Allam predicts project boom in Egypt

1 April 2015 | By Wil Crisp
Egyptian contractor says it is well positioned to take advantage of growing project market Oil storage Mashreq tank terminal construction to start this year

31 March 2015 | By Wil Crisp
Partner sought to invest in the Egyptian hub project Cement Qalaa looks to invest in Egyptian cement

31 March 2015 | By Wil Crisp
Managing director says company is expecting increased demand Mall of the Emirates Majid al-Futtaim reaffirms expansion plans

29 March 2015 | By Hossam Abougabal
Local mall developer aims to double its business An armed man walks on the rubble of houses destroyed by an air strike near Sanaa airport on 26 March. Saudi Arabia and Gulf region allies have launched military operations including air strikes in Yemen Saudi allies deploy warplanes against Yemen’s Houthis

26 March 2015 | By Wil Crisp
UAE, Kuwait, Bahrain, Qatar and Jordan commit 76 fighter jets Mining Slow progress frustrates Egyptian miners

26 March 2015 | By Wil Crisp
Egyptian Mineral Resources Authority yet to make decision Nile river Egypt signs Nile dam deal with Ethiopia and Sudan

23 March 2015 | By Andrew Roscoe
The Great Ethiopian Renaissance Dam has soured relations between the states since construction work started in 2013 Egypt’s Qalaa Holdings on track to profitability Qalaa Holdings on track to profitability

23 March 2015 | By Rebecca Spong
Egyptian firm raising fresh liquidity to fund growth Egyptian Exchange Egyptian Exchange begins to attract state-owned firms

23 March 2015 | By Rebecca Spong
Misr Fertilisers applies to list on EGX Steel production Steel production up 7 per cent in February

23 March 2015 | By Mark Watts
Iran and Saudi Arabia’s steel output help boost Middle East steel sector Power generation mix 2022 Acwa Power submits only bid for Egypt IPP

22 March 2015 | By Andrew Roscoe
Dairout independent power project is first tendered IPP since late 1990s

Qatar Oil, Gas and Energy Update March 2015

Rail spearheads transport plans
Qatar aims to revamp its transport links to counter congestion

Qatar’s oil dilemma
It’s LNG and not oil that is Doha’s core business and it should be concentrating its efforts there

When the offshore North Field, the world’s largest non-associated gas field, was discovered in 1972 it was met with acute disappointment in Qatar because they had been really hoping for oil.

In the early 1970s oil was king and gas was nothing more than a by-product. Qatar would not develop the world’s largest liquefied natural gas (LNG) export infrastructure for almost 40 years, which gives clear indication of how little respect was afforded to gas back then.

But we are not in the 1970s anymore and the global oil market is evolving in such a revolutionary way that could make the mature, low-yield oil fields of the Middle East completely obsolete by the end of the decade.

The vast majority of the sector’s research and development is now focused on driving innovation in unconventional hydrocarbons and this is what could sound the death knell for some of Qatar’s low-producing oil fields.

Investing in new surface facilities, drilling new wells and rehabilitating ageing infrastructure costs a fortune and with oil prices seemingly content to sit at $50-$60 a barrel it is making investment decisions easy.

There is no decent argument to be had for spending $3bn on an oil field rehabilitation that can only sustain production of 100,000 barrels a day for five years. If anything the probability of oil prices going down is higher than them rising at this point in time.

All it would take is a breakthrough in drilling and fracking technology to witness global oil shale production skyrocket. If this happens oil prices will depress even further and start to make the future of medium-yield oil fields look uncertain.

There have been no announcements regarding any of Qatar’s upstream oil projects and there could still be investment in maintaining current production levels for as long as possible before bowing to the inevitable and allowing them to slowly deplete.

Qatar Petroleum knows that in uncertain times you concentrate on your core strengths. The fact is that LNG fulfils that criteria for Doha and if there is to be any significant investments anywhere, it should be there.

Qatar to 2022 and beyond
Fifa confirms the Qatar World Cup Finals are to be held in November 2022 to avoid the Gulf’s heat and humidity

Gulf aviation hub to be largely unchallenged
Demands from US airlines have been raised in Washington

Doha metro takes shape
The network is planned to last beyond the World Cup

Middle East contracts awarded: February 2015
Over $8bn of contracts awarded in February in the Middle East

UAE Oil and Gas March 2015 Update

UAE Innovation Project of the Year

Emirates AquaTech Caviar Factory
The Beach
UAE Building Project of the Year

The Beach
UAE Industrial Project of the Year

Emal Phase 2
Park Hyatt
Drake & Scull Leisure & Tourism Project of the Year – Abu Dhabi

Park Hyatt Hotel
The Beach
Drake & Scull Leisure & Tourism Project of the Year – Dubai

The Beach
Presidential Palace
UAE Power & Water Project of the Year

Presidential Palace substation
Cleveland Clinic
UAE Social infrastructure Project of the Year

Cleveland Clinic Abu Dhabi
Ramboll Sustainable Project of the Year – UAE


Hyder Consulting Transport Project of the Year – UAE
Al-Raha Beach
Fujairah oil storage continues rapid expansion
Capacity demand rises as traders hold stocks while crude prices stay low

Dubai moves ahead with 800MW solar project
Third phase of the Mohammed bin Rashid al-Maktoum solar park would be the world’s largest single solar project

Contracting and materials drive Senaat profit in 2014
NPCC and Arkan underpin 9 per cent income growth for Abu Dhabi industrial group

Oman Oil and Gas March 2015 Update

Oman tenders coke storage and handling facilities
Companies given deadline for project in Port of Sohar

Stable countries key to long-term plans
China State Construction planning to increase workforce in region if contracts come through

Bank Nizwa reduces losses in 2014
Revenues grow at Omani Islamic bank

Oman evaluates IWP prequalification
Client received entries from 12 companies for two desalination projects

Oman signs water purchase agreement
Singapore firm to develop independent water project

Oman to tender $1bn road project
List of prequalified international consortiums finalised

UK firm awarded Oman services contract
Engineering group to provide technical services to refineries and petrochemicals plants

Oman tenders New Sultan Qaboos hospital
16 companies prequalified

Sultan Qaboos returns to Oman

Oman to tender hospital project
Another five hospital construction tenders expected in 2015