CAPEX Q3 2019
Strong project awards seen in Q3 2019 brings 2019’s GCC energy spends to a total of c.USD 44.3bn – a c.28% rise from the total energy spends seen in 2018. With some key mega projects in advanced stages, decent project activity is expected to continue in the remainder of this year
CAPEX Q2 2019
H1 2019 has so far witnessed decent project awards and steady progression in key upcoming projects. With multiple mega projects present in the pipeline, the remainder of the year will likely continue to see healthy project activity
CAPEX Q1 2019
2019 project activity has commenced with a strong start with Q1 2019 witnessing c.USD 11.7bn worth of spends. With a filled pipeline of mega-projects, the remainder of the year is expected to see strong awards as well
CAPEX Q4 2018
Even with an increase in crude oil prices, 2018 was a troubled year for the Middle East projects market with project spends of only USD 32.5bn. With major strategic plans being finalized by NOC’s in the region, 2019 is expected to witness significantly higher project spends
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