The oil, gas and petrochemicals market is the second-largest sector historically in the GCC, with more than $280bn-worth of contracts awarded in the region in the past decade
Key points:
> HISTORICAL PERFORMANCE: Saudi Arabia, the UAE and Qatar have dominated spending over the past five years, although spending in each is highly cyclical. Kuwait invested more than $40bn in 2013 and 2014, but has spent little since, while Bahrain and Oman are smaller markets.
> MEGAPROJECTS (are each worth more than $1bn): More than 40 oil, gas and petrochemical megaprojects in the GCC are in the early stages of execution or in planning. Saudi Arabia has half the value of all active oil, gas and chemical megaprojects, followed by Qatar and the UAE.
> TOP MEGAPROJECT CLIENTS: As with all sizes of oil and gas projects, the ranking of the top clients on megaprojects remains Saudi Aramco followed by Qatargas and Adnoc Offshore.
> CAPACITY TARGETS: Most GCC states have set production targets to meet growing global demand. In some cases, these are estimated to be the maximum each country could sustain as they seek to maintain supply leadership and pricing influence.
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