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Arab nations attract $406bn in oil and gas investments

By Pramod Kumar
The US was the biggest investor in Arab nations' oil and gas sectors in terms of number of projects, taking part in 85 investments Reuters
The US was the biggest investor in Arab nations' oil and gas sectors in terms of number of projects, taking part in 85 investments

Arab countries’ oil and gas sectors received investments totalling $406 billion between January 2003 and May 2024.

The investments spanned 610 projects and involved 356 foreign and Arab companies, the UAE state-run Wam news agency reported, citing a report by the Arab Investment and Export Credit Guarantee Corporation (Dhaman).

The United States was the biggest investor in terms of number of projects, taking part in 85 investments, accounting for about 14 percent of the total.

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Russia ranked first in terms of investment value, with investments totalling $62 billion, representing about 15 percent of the total.

Proven oil reserves in the Arab region are projected to decline to 704 billion barrels in 2024, about 41 percent of the global total. By 2030, these reserves are expected to further decline by 7 percent to 654 billion barrels.

Proven natural gas reserves in the Arab region are estimated to reach about 58 trillion cubic meters, or 27 percent of the global total. These reserves are projected to decrease by 7.5 percent to 54 trillion cubic metres by 2030.

The production of crude oil, compressed gas and other liquids is expected to increase by 6.4 percent to nearly 30 million barrels per day in 2024. Output is projected to reach approximately 33 million barrels per day by 2030.

Dhaman, established in Kuwait in 1974, is a pan-Arab institution owned by the governments of Arab countries and four Arab financial institutions.

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