GCC Oil & Gas Industry Overview - April 2010
Leading the global hydrocarbon industry with the proven supplies to last for several decades, 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.
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.
Introduction
1.1 Competitive landscape of GCC Oil and Gas Sector
1.2 Supplier Power
1.3 Global economic slug puts a break
1.4 Maturing Oil and Gas fields
1.5 Entry Barriers
1.6 Substitutes
1.7 Buyer power
1.8 Industry Rivalry
GCC Oil Upstream sector
Bahrain
Major Field Developments in Progress
Redevelopment of Awali Onshore Oil Field
Offshore Field Development
Khuff Gas Production and Distribution Expansion
Conclusion
Oman
Discovery at Al Ghubar and Qarn Alam
Explorations at Dafiq West and Anbar
Major Field Developments in Progress
Conclusion
Qatar
Major Field Developments in Progress
Barzan North Field Development
Al Shaheen Oil Field Development Project
Focus on GTL Projects
Conclusion
Kuwait
Focus on Exploring non-associated gas and light sweet crude
Exhaustion of Larger Oil Fields
Major Field Developments in Progress
Kingdom of Saudi Arabia
Focus on Gas amidst of Soaring Gas Demand
KSA announces 12 mmcfd gas find in the northern Jalamid area
Spotlight on Emerging Economies
Major Field Developments in Progress
Conclusion
UAE
Abu Dhabi
Dubai
Northern Emirates
Abu Dhabi Plans to expand oil production capacity to 3.6 million b/d
Dubai’s oil discovery to prop up growth
Major Field Developments in Progress
Conclusion
GCC Downstream Sector
Expansion in rapidly developing Asian market
Oman
Refining Sector
Oman's methanol output to double in April 2010
Qatar
Refining Sector
The inauguration of Laffan Refinery will be a milestone for Qatar
Delay in the Construction of Al-Shaheen Oil Refinery
Expansion Plans
Bahrain
Redevelopment of the Refinery in Bahrain
Conclusion
Kuwait
Refining Sector in Kuwait
Clean Fuels Project
Plans for the construction of the country’s 4th refinery
Saudi Arabia
Saudi Targeting Export Markets
Refining Sector
Major Refinery Projects in KSA
Major Petrochemical Projects in KSA
Conclusion
UAE
UAE at the forefront to pioneer GCC petrochemical sector
Refining Sector
ENOC’s new refinery unit to start in May 2010
Abu Dhabi to double refinery capacity by 2013
Refinery in Fujairah
Chemaweyaat - Tacaamol Petrochemical Complex
GCC Hydrocarbon Sector Market Size and Forecasts
Construction Projects Awarded For Oil & Gas Construction in GCC (2008 -2013)
Saudi Arabia
UAE
Qatar
Oman
Kuwait
Bahrain
Construction Spend on Oil & gas Construction Projects in GCC (2008 -2013)
Saudi Arabia
UAE
Qatar
Oman
Kuwait
Bahrain
Analysis of Oil Industry growth vis-a-vis Economic growth across countries in GCC
Analysis of Natural Gas Industry growth vis-a-vis Economic growth across countries in GCC
Oil Prices
GCC boosts investments in gas development and exploration
Petrochemicals
Conclusion
Code of Ethics
Ventures MENA Projects Database
1.1 Competitive landscape of GCC Oil and Gas Sector
1.2 Supplier Power
1.3 Global economic slug puts a break
1.4 Maturing Oil and Gas fields
1.5 Entry Barriers
1.6 Substitutes
1.7 Buyer power
1.8 Industry Rivalry
GCC Oil Upstream sector
Bahrain
Major Field Developments in Progress
Redevelopment of Awali Onshore Oil Field
Offshore Field Development
Khuff Gas Production and Distribution Expansion
Conclusion
Oman
Discovery at Al Ghubar and Qarn Alam
Explorations at Dafiq West and Anbar
Major Field Developments in Progress
Conclusion
Qatar
Major Field Developments in Progress
Barzan North Field Development
Al Shaheen Oil Field Development Project
Focus on GTL Projects
Conclusion
Kuwait
Focus on Exploring non-associated gas and light sweet crude
Exhaustion of Larger Oil Fields
Major Field Developments in Progress
Kingdom of Saudi Arabia
Focus on Gas amidst of Soaring Gas Demand
KSA announces 12 mmcfd gas find in the northern Jalamid area
Spotlight on Emerging Economies
Major Field Developments in Progress
Conclusion
UAE
Abu Dhabi
Dubai
Northern Emirates
Abu Dhabi Plans to expand oil production capacity to 3.6 million b/d
Dubai’s oil discovery to prop up growth
Major Field Developments in Progress
Conclusion
GCC Downstream Sector
Expansion in rapidly developing Asian market
Oman
Refining Sector
Oman's methanol output to double in April 2010
Qatar
Refining Sector
The inauguration of Laffan Refinery will be a milestone for Qatar
Delay in the Construction of Al-Shaheen Oil Refinery
Expansion Plans
Bahrain
Redevelopment of the Refinery in Bahrain
Conclusion
Kuwait
Refining Sector in Kuwait
Clean Fuels Project
Plans for the construction of the country’s 4th refinery
Saudi Arabia
Saudi Targeting Export Markets
Refining Sector
Major Refinery Projects in KSA
Major Petrochemical Projects in KSA
Conclusion
UAE
UAE at the forefront to pioneer GCC petrochemical sector
Refining Sector
ENOC’s new refinery unit to start in May 2010
Abu Dhabi to double refinery capacity by 2013
Refinery in Fujairah
Chemaweyaat - Tacaamol Petrochemical Complex
GCC Hydrocarbon Sector Market Size and Forecasts
Construction Projects Awarded For Oil & Gas Construction in GCC (2008 -2013)
Saudi Arabia
UAE
Qatar
Oman
Kuwait
Bahrain
Construction Spend on Oil & gas Construction Projects in GCC (2008 -2013)
Saudi Arabia
UAE
Qatar
Oman
Kuwait
Bahrain
Analysis of Oil Industry growth vis-a-vis Economic growth across countries in GCC
Analysis of Natural Gas Industry growth vis-a-vis Economic growth across countries in GCC
Oil Prices
GCC boosts investments in gas development and exploration
Petrochemicals
Conclusion
Code of Ethics
Ventures MENA Projects Database
LIST OF FIGURES
Figure 1: World Liquid Fuels Consumption
Figure 2: 5 Major Forces Impacting GCC Oil & Gas Sector
Figure 3: Awali Oil Field
Figure 9: Oman Oil & Gas Production
Figure 10: Qatar Natural Gas Supply vs. Demand
Figure 11: Bahrain - Oil Production vs. Consumption
Figure 12: Bahrain - Natural Gas Production vs. Consumption
Figure 13: Kuwait Oil Production vs. Consumption
Figure 14: Saudi Oil Production vs. Consumption
Figure 15: UAE Oil Production vs. Consumption
Figure 16: GCC Oil & Gas Contractor Awards
Figure 17: GCC Oil & Gas Contractor Awards Split by Country
Figure 18: GCC Oil & Gas Construction Spend in 2009
Figure 19: GCC Oil & Gas Construction Spend
Figure 20: GCC Oil Production & Consumption (2009)
Figure 21: GCC Natural Gas Production & Consumption (2009)
Figure 22: Oil Growth vs. Economic Growth
Figure 23: Natural Gas Growth vs. Economic Growth
Figure 24: Yearly OPEC Basket Price
Figure 25: Monthly OPEC Basket Price
Figure 1: World Liquid Fuels Consumption
Figure 2: 5 Major Forces Impacting GCC Oil & Gas Sector
Figure 3: Awali Oil Field
Figure 9: Oman Oil & Gas Production
Figure 10: Qatar Natural Gas Supply vs. Demand
Figure 11: Bahrain - Oil Production vs. Consumption
Figure 12: Bahrain - Natural Gas Production vs. Consumption
Figure 13: Kuwait Oil Production vs. Consumption
Figure 14: Saudi Oil Production vs. Consumption
Figure 15: UAE Oil Production vs. Consumption
Figure 16: GCC Oil & Gas Contractor Awards
Figure 17: GCC Oil & Gas Contractor Awards Split by Country
Figure 18: GCC Oil & Gas Construction Spend in 2009
Figure 19: GCC Oil & Gas Construction Spend
Figure 20: GCC Oil Production & Consumption (2009)
Figure 21: GCC Natural Gas Production & Consumption (2009)
Figure 22: Oil Growth vs. Economic Growth
Figure 23: Natural Gas Growth vs. Economic Growth
Figure 24: Yearly OPEC Basket Price
Figure 25: Monthly OPEC Basket Price
LIST OF TABLES
Table 1: GCC Sovereign Ratings
Table 2: Upstream Projects in Bahrain
Table 3: Upstream Projects in Oman
Table 4: Upstream Projects in Saudi Arabia
Table 5: Upstream Oil & Gas Projects in UAE
Table 6: GCC Refining Capacity
Table 7: Major Downstream Projects in Oman
Table 8: Major Refinery Projects in KSA
Table 9: Major Petrochemical Projects in KSA
Table 1: GCC Sovereign Ratings
Table 2: Upstream Projects in Bahrain
Table 3: Upstream Projects in Oman
Table 4: Upstream Projects in Saudi Arabia
Table 5: Upstream Oil & Gas Projects in UAE
Table 6: GCC Refining Capacity
Table 7: Major Downstream Projects in Oman
Table 8: Major Refinery Projects in KSA
Table 9: Major Petrochemical Projects in KSA
