Petrochemical projects will constitute the majority of the upcoming oil and gas projects that are expected to commence operations in Saudi Arabia during the period 2023 – 2027.
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Petchem projects to drive Saudi oil, gas sector by 2025
RIYADH, 6 hours, 49 minutes ago Petrochemical projects are expected to drive the commencement of upcoming projects across the oil and gas value chain in Saudi Arabia, accounting for 61 per cent of the total projects expected to start operations by 2025, according to GlobalData, a leading data and analytics company. Among these, new build projects dominate with 84%, while the rest are expansion projects, stated GlobalData in its report, Middle East Oil and Gas Projects Outlook to 2025 - Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects. The report reveals that petrochemical projects will be the highest with 50, followed by midstream with 18, refinery at eight, and upstream (fields) at six.