Editor's Synopsis: Upstream Investment Flies into North Africa and the Middle East

摘要

Dear Reader, In this issue, we see that billions of investment is set to flow into the upstream sector of the North Africa and Middle East Region. Countries such as Oman, Saudi Arabia, Egypt, Lebanon and Iraq are investing heavily in upstream development of their exploration and development programs. In Oman, the government predicts US$100 billion will be invested in the oil and gas sector over the next ten years. The ouday is central to the government's goal of sustaining oil and gas output over the long-term. The ministry is pursuing a two-tiered strategy: thefirst involves international oil companies, like BP, which is currently appraising the tight gas potential of the Khazzan-Makarem field in Block 61, estimated to have around 150 tcf in place.